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TMI Blog2016 (12) TMI 708X X X X Extracts X X X X X X X X Extracts X X X X ..... at: - The assesse has reversed the irregularly availed credit before utilisation. The same was reversed prior to issuance of show cause notice. The issue is whether the assessee is liable to pay interest when the credit is reversed before utilisation. The issue is settled in the cases of COMMISSIONER OF CENTRAL EXCISE & SERVICE TAX LARGE TAXPAYER UNIT, BANGALORE Versus M/s BILL FORGE PVT LTD, BANG ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with the well reasoned order passed by Commissioner (Appeals) - demand set aside - appeal dismissed - decided against Department. X X X X Extracts X X X X X X X X Extracts X X X X ..... amount reversed by them. Equal amount of penalty was also imposed. The assessee carried the issue in appeal and vide order impugned herein the Commissioner(Appeals) set aside the demand of interest and the penalty imposed. Hence this appeal. 2. On behalf of the department, the Ld. AR Shri P.S.Reddy submitted that the appellants had availed the ineligible credit with an intention to evade payment ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interest when the credit is reversed before utilisation. The issue is settled in the cases of CCE,ST LTU Bangalore Vs Billforge Pvt. Ltd 2012 (279) ELT209(Kar), Strategic Engg. Ltd. Vs CCE, Madurai, 2014(310)ELT-509 (Mad) and M/s Rashtriya Ispat NighamLtd. -2016-TIOL-1776-CESTAT, Hyderabad. The Hon'ble High Court of Karnataka and Madras, in the above decisions have referred to the judgment laid i ..... X X X X Extracts X X X X X X X X Extracts X X X X
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