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TMI Blog2018 (7) TMI 7X X X X Extracts X X X X X X X X Extracts X X X X ..... yer for settling the dispute, the appellant was not entitled to the credit of the duty was paid - Demand of Interest - Held that:- Appellant availed the credit of the duty deposited in terms of order of the Settlement Commission but subsequently reversed the same, when proceedings were initiated against them for recovery. The fact of availment of credit was duly reflected by them in their accounts ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hwa, Member (Judicial) And Mr. Anil G. Shakkarwar, Member (Technical) Shri Pradeep Kumar Mittal (Advocate) for Appellant Shri Mohd. Altaf (Asstt. Commr.) AR for Respondent ORDER Per: Archana Wadhwa After hearing both the sides we find that the appellant is engaged in the manufacture of Purified Terepthalic Acid and imported certain raw materials, without payment of duty u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... its were made in terms of order of Settlement Commission, which were final order not appealable before any higher Appellate Forum, and was based on the appellants prayer for settling the dispute, the appellant was not entitled to the credit of the duty was paid. Accordingly, proceedings were initiated against the appellant by way of issue of show cause notice dated 07/09/2009 proposing reversal of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... med the interest and imposed penalty of ₹ 2 lacs in terms of provisions of Rule 15 read with provisions of Section 11AC of the Act. The confirmation of the interest and imposition of penalty is being challenged in the present appeal. 6. After hearing both the sides, we find that there is no dispute about the factual position. Appellant availed the credit of the duty deposited in terms of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vs. Bill Forge Pvt. Ltd. MANU/KA/1284/2011 has held that in case the credit availed is reversed before utilization, no interest liability would arise. As such in terms of the above decision of the Hon ble Karnataka High Court, we find no justification for confirmation of interest. The same is accordingly set aside. 8. The demand of Cenvat credit of ₹ 2,17,60,280/- already reversed by the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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