2016 (10) TMI 1047

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..... balance during the relevant time before reversal of the credit - The issue stands covered by the judgments laid in the case of CCE & ST, LTU, Bangalore V/s Bill Forge Pvt Ltd. [2011 (4) TMI 969 - KARNATAKA HIGH COURT], where it was held that once the entry was reversed, it is as if that the Cenvat credit was not available - the claim of interest by the revenue as well as the imposition of the pen .....

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..... the opening balance and closing balance of the credit account during the period February 2009 to September 2009 which evidences that the appellant had sufficient balance during the relevant time before reversal of the credit. Therefore the claim of interest by the revenue as well as the imposition of the penalty is unsustainable. The impugned order is set aside. The appeal is allowed with conseque .....

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