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TMI Blog2017 (1) TMI 298X X X X Extracts X X X X X X X X Extracts X X X X ..... utral inasmuch as had the cenvat credit been reversed, the same would have been eligible for credit to the sister unit - there is no loss of Revenue to the Government Exchequer, and as such, there is no question of compensating the Government for loss of any Revenue. Imposition of penalty under sub-rule (1) of Rule 15 ibid - Held that: - since the authorities below have not specifically allege that wrong cenvat credit has been availed by the appellant, I am of the view that sub-rule (1) of Rule 15 ibid cannot be invoked in the facts and circumstances of this case for imposition of penalty. Appeal allowed - decided in favor of appellant. - E/3287/2009-EX [DB] - Final Order No. 55712/2016 - Dated:- 10-11-2016 - Mr. S.K. Mohanty, Mem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 03.01.2008 to the appellant for recovery of the interest on delayed reversal of cenvat credit and for imposition of penalty. The said show cause notice was culminated into the adjudication order dated 23.03.2009, wherein the amount reversed in the cenvat account was appropriated and interest amount of ₹ 2,67,476/- was confirmed against the appellant under Rule 14 of Cenvat Credit Rules, 2004 read with Section 11AB of the Central Excise Act. Besides, penalty of ₹ 2,50,000/-was imposed under Rule 15(1) of the Cenvat Credit Rules. In appeal, the ld. Commissioner (Appeals) vide the impugned order dated 02.09.2009 has upheld the adjudged demand. Hence, the present appeal before the Tribunal. 4. Shri Shaswat, the ld. Advocat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the view that in terms of the decision of this Tribunal in the case of Paper Products Ltd. (Supra), no interest is payable by the appellant. The relevant paragraph of the said decision is extracted below:- The assessee having paid the duty liability before issuance of show cause notice and there being no malafide attached to such under-valuation, the interest liability that has been confirmed by the lower authorities also needs to be set aside and we do so 7. I also find that the situation in this case is revenue neutral inasmuch as had the cenvat credit been reversed, the same would have been eligible for credit to the sister unit. Since sufficient balance was all along availbe in the cenvat account and on pointing out the mi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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