2018 (2) TMI 70

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... availed and utilized was substituted with the words “credit availed or utilized” - the issue has been settled in the case of Commissioner of Central Excise, Madurai Vs. Strategic Engineering (P) Ltd. [2014 (11) TMI 89 - MADRAS HIGH COURT], where it was held that even prior to the amendment, the assessee cannot be liable to pay interest or penalties. The demand of interest and penalties imposed .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... roposing to recover an amount of ₹ 31,17,697/- being irregularly availed credit along with interest and also for imposition of penalty. After due process of law, the original authority observed that since amendment was brought forth in Rule 14 of CENVAT Credit Rules, with effect from 1.4.2012, the appellant having reversed the credit which was wrongly availed by them would not be liable to p .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... mmissioner of Central Excise, Bangalore Vs. Bill Forge Pvt. Ltd. - 2012 (279) ELT 209 (Kar.) passed by the Hon ble High Court of Karnataka. 3. The ld. AR Shri R. Subramaniyam reiterated the findings in the impugned order. 4. Heard both sides. 5. I find that pursuant to the amendment brought forth with effect from 1.4.2012, the credit availed and utilized was substituted with the words .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X