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TMI Blog2018 (6) TMI 710X X X X Extracts X X X X X X X X Extracts X X X X ..... d reversal of credit? - Held that:- The Hon'ble jurisdictional High Court in the case of Stretegic Engineering P. Ltd. [2014 (11) TMI 89 - MADRAS HIGH COURT] has held that no interest is liable to be paid when the credit is reversed before utilization - the disallowance of abatement under the Notification is unjustified - appeal allowed - decided in favor of appellant. - ST/63 & 64/2011 - Final O ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ailed CENVAT on duty paid inputs / capital goods / input services. On being pointed out, the appellant reversed the credit immediately before utilization. However, they did not reverse the interest while reversing the credit. Show cause notice was issued alleging wrong availment of abatement in terms of Notification No.1/2006 stating that though appellant has reversed the credit but the credit was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inputs / capital goods / input services. The appellant had initially availed CENVAT credit on certain input services such as telephone services which were used for providing tour operator service. Subsequently, the appellant reversed the CENVAT credit attributable to such services. When the appellant has reversed the wrongly availed credit, there is no liability to pay interest and such reversal i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndings in the impugned order. He submitted that the appellant though reversed the credit has not reversed along with interest. When the credit has not been reversed along with interest, it cannot be considered as proper reversal of the credit and therefore the appellant is not eligible for the abatement as per the notification. 5. Heard both sides. 6. The issue that poses for consideration ..... X X X X Extracts X X X X X X X X Extracts X X X X
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