2017 (10) TMI 496

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..... lowing the ratio laid down by Hon’ble Karnataka High Court in the case of Bill Forge [2011 (4) TMI 969 - KARNATAKA HIGH COURT], the appellant is not liable to pay the interest - demand of interest set aside. Penalty - Held that: - the appellant immediately reversed the CENVAT credit excess availed by them on pointing out by the department. Therefore, in that circumstances, malafide cannot be at .....

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..... nvat credit as per Rule 3(7)(a) of Cenvat Credit Rules, 2004. Therefore, appellant has immediately reversed the cenvat credit excess taken by them. Later on, the show cause notice was issued for appropriation of said amount and to demand interest and to impose penalty. The matter was adjudicated and amount already paid was appropriated and interest and penalty was imposed on the appellant. Aggriev .....

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..... Counsel and submits that the ignorance of law is no excuse. Therefore, the appellant is required to be penalized. 5. Heard the parties. Considered the submissions. Issue of Interest It is a fact on record that the appellant was having sufficient balance in their Cenvat credit account. Therefore, following the ratio laid down by Hon ble Karnataka High Court in the case of Bill For .....

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