9911796707
TMI Blog2016 (3) TMI 1107X X X X Extracts X X X X X X X X Extracts X X X X ..... notice - Held that:- by following the dictum of judgments of Karnataka High Court in the case of CCE&ST, Bangalore Vs. Bill Forge P. Ltd. [2011 (4) TMI 969 - KARNATAKA HIGH COURT] and Madras High Court in the case of CCE, Madurai Vs. Strategic Engineering (P) Ltd. [2014 (11) TMI 89 - MADRAS HIGH COURT], the demand is not justified. - Decided in favour of appellant with consequential relief X X X X Extracts X X X X X X X X Extracts X X X X ..... ₹ 1,43,353/- and proposing to impose penalty. After due process of law, the original authority disallowed the credit of ₹ 22,77,073/- and appropriated the credit reversed by the appellants. The demand of interest of ₹ 1,43,353/- was confirmed and penalty of ₹ 10,000/- was also imposed. The appellants filed appeal. The Commissioner(Appeals) vide the order impugned herein up ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... time of removal of the inputs for purposes other than that for use in the manufacture of final products, the appellants accordingly reversed CENVAT credit of an amount equal to the credit availed on said inputs. During May 2011 to December 2011, the appellants reversed an amount of ₹ 22,77,073/- being the credit availed on inputs removed for purposes other than for use in manufacture. The ap ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is not disputed that the credit was reversed before utilization. The issue whether interest is payable on the credit wrongly availed and reversed before utilization was considered in the judgments laid in Bill Forge (P) Ltd. (supra) and Strategic Engineering case (supra) and is held in favour of the assessee. Following the dictum laid in the above judgments, I hold that the demand of interest of & ..... X X X X Extracts X X X X X X X X Extracts X X X X
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