TMI Blog2018 (3) TMI 1548X X X X Extracts X X X X X X X X Extracts X X X X ..... on of Rule 7 of Point of Taxation Rules, 2011 read with Rule 4(7) of the CENVAT Credit Rules, 2004 - Held that: - Admittedly the credit availed by the assessee was lying in their accounts only without being utilised. In such a scenario, the confirmation of interest or imposition of penalty is not justified - appeal dismissed - decided against Revenue. - E/87786/17 - A/85475/2018 - Dated:- 7-3-201 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d Royalty during March 2014. They subsequently availed the input service credit of the Service Tax so paid on the basis of GAR-7 challan. It further appeared that they made provision in their books of accounts for the related value on the above said import of service as the bills were not received. It was also observed that no bills (for provisions made of the import of services) were received nor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9;ble High Court of Karnataka decision in the case of Commissioner of Central Excise S.T. LTU Bangalore Vs. Bill Forge Pvt. Ltd. - 2012 (279) ELT 209 (Kar.) would apply. As regard penalty, he observed that there was no malafide on part of the assessee as they have availed Service Tax credit after paying the same and there could be a bonafide believe that as soon as they paid Service Tax on r ..... X X X X Extracts X X X X X X X X Extracts X X X X
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