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2017 (5) TMI 509 - AT - Central ExciseInterest - penalty - suppression of facts - N/N. 64/95-CE dt. 16.03.1995 and 10/97-CE dt. 01.03.1997 - case of appellant is that the FA, 2005 made with retrospective amendment, in that circumstances, the charges of suppression is not sustainable against the appellant - Held that: - the issue on interest came before the Hon’ble Apex court in the case of Star India Pvt. Ltd. Vs. CCE, Mumbai & Goa [2005 (3) TMI 10 - Supreme Court], where it was held that The liability to pay interest would only arise on default and is really in the nature of quasi-punishment. Interest liability can be prospective only. - interest set aside. On the issue of penalty, in appellant’s own case [2010 (6) TMI 699 - CESTAT NEW DELHI], this Tribunal has held that it was not the case of the respondent that there was any case of fraud, wilful mis-statement, collusion or suppression of facts on the part of the appellants in utilizing the credit without complying with the requirement of Rule 6(2) of the said Rules, thus penalty cannot be levied - penalty set aside. Appeal allowed - decided in favor of appellant.
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