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TMI Blog2017 (6) TMI 202X X X X Extracts X X X X X X X X Extracts X X X X ..... ; 50,000/-, it is observed that against huge amount of Cenvat credit of ₹ 1,92,86,034/- adjudicating authority by giving substantial relief penalty imposed is only of ₹ 50,000/- which in my view is very reasonable and does not require any interference - appeal dismissed - decided against appellant. - E/357/10 - A/87371/17/SMB - Dated:- 31-3-2017 - Mr. Ramesh Nair, Member (Judicial) Ms. Anjali Hirawat, Advocate for the Appellants Shri. S.V. Nair, Asstt. Commissioner(A.R.) for the Respondent ORDER The fact of the case is that appellant M/s. Cipla Ltd are engaged in the manufacture of P.P. Medicines falling under chapter 30042013 for the schedule to Central Excise Tariff Act, 1985. They are also manufacturing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s unused credit, therefore demand of interest is illegal. She placed reliance on the following judgments: (a) LG Electronics Pvt. Ltd. Vs. CCE 2010 (255) ELT 135 (Tri.-Mum.) Affirmed by Bombay High Court in Commr. Vs. LG Electronics Pvt. Ltd. - 2014 (308) ELT AI 18 (Bom.) Affirmed by Supreme Court in Commr. Vs. LG Electronics Pvt Ltd. - 2016 (341) ELT A223 (SC) (b) CCE Vs. Bombay Dyeing Mfg. co. Ltd. 2007 (215) BLT 3 (SC) (c) CCE Vs. Maruti Udyog Ltd. 2007 (214) ELT 173 (P H) Affirmed by Supreme Court in Commr. Vs. Maruti Udyog Ltd. 2007 (214) ELT A50 (SC) (d) CCE C Vs. Dynaflex Pvt. Ltd. 2011 (266) ELT 41 (Guy.) (e) CCE C Vs. Genus Electrotech Ltd. 2013 (296) ELT 175 (Guj.) (f) CCE ST, LTU Vs. Bill Forg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ia Pvt Ltd[2015(321) ELT 611 (Bom.)] (b) Commissioner of C. ex. cus., Raipur Vs. Vandana Vidyut Ltd [2016(331) ELT 231 (Chhattisgarh)] (b) C.C.E. C. Aurangabad Vs. Sterlite optical Technologies Ltd[2008(225) ELT 430(Bom)] upheld by supreme Court reported as [2009(240)ELT A45(S.C.)] 4. I have carefully considered the submissions made by both sides. 5. I find that there are various contrary judgments on the issue whether in terms of Rule 14 interest is chargeable from date of taking credit or from utilization of the credit. This issue has been considered in case of Ind-Swift Laboratories Ltd(Supra), wherein Hon'ble Supreme Court interpreting Rule 14 held that as per term 'taking credit or utilization' in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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