2015 (10) TMI 2590

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..... regularly availed cenvat credit and subsequently reversal thereof is not attributable to any fraud, collusion, misstatement with intent to evade payment of duty. In such an eventuality, the Department was required to issue the SCN within a period of one year from the relevant date i.e. reversal of cenvat credit - The Hon’ble Supreme Court in the case of T.V.S. Whirlpool [1999 (10) TMI 701 - SUPREM .....

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..... seeking recovery of the interest amount and for imposition of penalty is barred by limitation of time. He further submits that there is no involvement of any suppression, fraud, collusion in irregular availment of cenvat credit. The Ld. Advocate relied on the judgment of Hon'ble Supreme Court in the case of Commissioner of Customs, madras vs T.V.S. Whirlpool Ltd. reported in 2000 (119) ELT A117-SC .....

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..... d confirmation of interest and penalty by the authorities below are not justified. The Hon'ble Supreme Court in the case of T.V.S. Whirlpool (supra) have held that period of limitation is not only applicable for the claim of the Principal amount, but has also applicable to the claim of interest thereon. 6. Therefore, I do not find any merits in the impugned order passed by the Ld. Commissioner (A .....

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