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2016 (6) TMI 582 - CESTAT CHENNAIDemand of interest - availment of ineligible credit of service tax on reverse charge basis - later on reversed without utilizing the same - Held that:- the interest is not payable as there has been only an availment and no utilization. It is well settled that when there has been only availment and no utilization and when there is no loss to the Revenue, the question of demand of interest does not arise. The contention of the Revenue that UOI and Ors. Vs Ind-Swift Laboratories Ltd. case [2011 (2) TMI 6 - Supreme Court] covers the situation on hand cannot be accepted as this Tribunal in the case of T.V.Sundram Iyengar & Sons Ltd. Vs CCE Madurai [2015 (10) TMI 1256 - CESTAT CHENNAI], has already held that while deciding the Ind-Swift Laboratories case the previous decision of the Supreme Court in the case of Bombay Dyeing was not brought to the notice of the Apex Court. Therefore, the contention of the Revenue on this count is unsustainable. Accordingly the impugned order is set aside. - Decided in favour of appellant
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