2017 (1) TMI 600

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..... nt. ORDER This appeal is directed against order-in-appeal No. AKP/NSK/223/2011, dated 30-12-2011. 2. Heard both sides and perused the records. 3. On perusal of the records, it transpires that the issue that falls for consideration in the case in hand is whether the appellant is required to pay interest and also needs to be penalized for non-reversal of Cenvat credit lying in balance. .....

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..... reversal of Cenvat credit attracts interest and was penalized for not paying the interest. 4. I do not find any merits in the findings recorded by both the lower authorities. There is no provisions in the Cenvat Credit Rules, 2004 which requires the appellant-assessee to reverse the Cenvat credit against the receipt of refund order. There is also no provision which mandates for demand of int .....

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