TMI Blog2014 (7) TMI 399X X X X Extracts X X X X X X X X Extracts X X X X ..... Bench of the Tribunal in the case of Machino Montel (I) Ltd. [2004 (4) TMI 101 - CESTAT, NEW DELHI] was overruled by the Hon'ble Punjab and Haryana High Court [2006 (7) TMI 23 - HIGH COURT OF PUNIAB & HARYANA (CHANDIGARH)]. Hence, the demand of interest is justified. Regarding the penalty - Held that:- It is seen that the appellant had availed ineligible credit on three occasions, which was det ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2002. The Central Excise audit party detected the availment of ineligible Cenvat credit in June, 2003. They reversed the credit immediately during the same month. A Show Cause Notice dated 24.06.2004, was issued proposing the demand of interest and penalty. Adjudicating authority dropped the proceedings following the Larger Bench of the Tribunal in the case of Commissioner of Central Excise Vs Mac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... also contended that they have availed the ineligible credit on three occasions and therefore, penalty should be imposed. 6. After hearing both sides and on perusal of records, I find that the appellant utilised the ineligible credit and, therefore, they are liable to pay the interest under Section 11AB of the Act, 1944 read with Cenvat Credit Rules, 2002. The decision of the Larger Bench of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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