TMI Blog2010 (3) TMI 412X X X X Extracts X X X X X X X X Extracts X X X X ..... ide the penalty and interest as the credit was revised. Held that- the CENVAT Credit has been reversed and the same has not been utilized for the payment of excise duty, thus, there is no question of demanding any interest and levying any penalty. - 81 of 2010 - - - Dated:- 29-3-2010 - Rajesh Kumar and Pankaj Mithal, JJ. [Order]. - This is an appeal at the instance of the Revenue challe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... refore, the manufacturer reversed the entry of the Credit and has not utilized such Credit for the payment of excise duty. However, the Central Excise Authority demanded the interest and also levied the penalty of Rs. 10 lacs on the allegation that CENVAT Credit has been wrongly taken. The matter came up for consideration before the Tribunal in appeal. The Tribunal has set aside the demand of the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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