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2008 (11) TMI 105 - CESTAT, AHMEDABAD
Appellant availed External Commercial Borrowings from non-resident lenders, and had paid certain fees/charges for arranging ECB – appellants contention that entire exercise is Revenue neutral and omission has occurred because of lack of coordination between Head office & factory, is acceptable - appellants have lost by making a mistake as they have paid more than Rs. 34 lakhs as interest which is not available to them as credit – SCN need not have been issued – penalty set aside