9911796707
TMI Blog2008 (2) TMI 110X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs.8,88,599/- and Rs.375/- as Education Cess. On checking of the record on their own the appellant noticed that they had availed credit, which is not eligible to them and reversed the same on 10.4.05 and 28.4.05 and intimated the jurisdictional Superintendent about the same. Subsequently, on 25.11.2005 the office of Assistant Commissioner of Central Excise issued a show cause notice demanding and interest of Rs. 93,345/- also seeking impose penalty on the appellant. The adjudicating authority after considering the entire issue came to the following conclusion:- "I have also perused the copy of statement showing the balance in Cenvat Credit submitted by the assessee during the period April 04 to April 05 the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fore me by the representative of the appellant that the issue of payment of interest on the amount, would not arise. He draws attention to the page 30 wherein the appellant has given the details of the balance of cenvat credit in the statutory records for the entire period i.e. April 2004 to April 2005. It is his submission that for the entire period the balance was almost the tune of Rs. 40 lakhs to Rs. 45 lakhs hence there was no utilization of the amount of Rs.8,85,597/-. He submits that the decision of the Punjab and Haryana High Court in the case of Commissioner of Central Excise, Delhi-III Vs. Maruti Udyog Limited as reported at [2007 (214) E.L.T. 173 (P & H)] would apply. It is also his submission that the sai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2004 to April 2005 at the end of every month was more than Rs. 35 lakhs. To my mind, the issue in this case is whether the interest is chargeable or not is squarely settled by the Hon'ble High Court of Punjab and Haryana decision in the case of Maruti Udyog Ltd. (Supra). Their Lordships were hearing an appeal filed by the Revenue against the Tribunal's judgment, which held that assessee is not liable to pay interest as the credit was taken as an entry in the modvat record and was infact not utilized. While dismissing the appeal filed by the Revenue, their Lordships held as under:- "Learned Counsel for the appellant is unable to show as to how the interest will be required to be paid when in absence of availment of M ..... X X X X Extracts X X X X X X X X Extracts X X X X
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