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TMI Blog2018 (8) TMI 307X X X X Extracts X X X X X X X X Extracts X X X X ..... nd of ₹ 3,88,550/- - the appellant is not liable to pay any interest and no penalty can be imposed on the appellant. Appeal allowed - decided in favor of appellant. - APPEAL NO. E/60310/2018 - A/62516/2018-SM[BR] - Dated:- 22-6-2018 - Mr. Ashok Jindal, Member (Judicial) Present for the Appellant(s): Shri Sudeep Singh (Advocate) Present for the Respondent(s): Shri G.M. Sharma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r of ₹ 5,66,983/- therefore, a verbal direction given to the appellant to reverse the balance amount of ₹ 3,88,550/- which appellant reversed on 14.05.2012 and on realization that they were not required to reverse the said amount, filed refund claim on 10.07.2012 to entertain the said refund claim, a show cause notice was issued to the appellant to deny refund claim filed by the appell ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nvat credit on transfer of unit of ₹ 5,66,983/- and same was regularized vide later dated 17.09.2010 and it is the case of the appellant that when the unit was transferred to Pvt. Ltd. Company on 01.05.2008, there was a Cenvat credit lying in their Cenvat credit account of ₹ 5,66,983/- only. It was mis-interpreted by the authorities below that Cenvat Credit as on 31.03.2008 was require ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sed by the appellant was not required to be reversed, therefore, they filed refund claim which is correct, in these circumstances, I hold that appellant is entitled to claim refund of ₹ 3,88,550/- It is pertinent to mention here that the appellant is not liable to pay any interest and no penalty can be imposed on the appellant. With these observations, the appeal is allowed. (Order dic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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