TMI Blog2018 (7) TMI 1336X X X X Extracts X X X X X X X X Extracts X X X X ..... , where it is held that if the excess credit availed remained as paper entry and was not utilised, no interest liability would arise. Penalty - Held that:- This is a case of bona fide availment of credit and inasmuch as the issue also stands decided in favour of the assessee, it cannot be held to be a case of any mala fide so as to attract penal provisions - penalty also not warranted. Appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in respect of services relatable to their other unit. Accordingly, the appellant reversed the credit of ₹ 4,33,360/-, which was proportionately belonging to their other unit. 2. In the above background, proceedings were initiated against them for confirmation of interest and for imposition of penalty resulting in passing of the present impugned orders. 3. Ld. Advocate appearing for th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e not in a position to challenge the same now before the Tribunal. His only contests is to confirmation of interest and imposition of penalties. As regards interest, he submits that inasmuch as the credit remained unutilised in their records, no interest liability would arise in terms of the decision of the Hon ble Karnataka High Court s decision in the case of CCE ST, LTU Vs. Bill Forge Pvt. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ase of bona fide availment of credit and inasmuch as the issue also stands decided in favour of the assessee, it cannot be held to be a case of any mala fide so as to attract penal provisions. 6. In view of the foregoing, while confirming the demand, I set aside the confirmation of interest and imposition of penalty. Appeal is disposed of in above terms. (Dictated pronounced in open Court) ..... X X X X Extracts X X X X X X X X Extracts X X X X
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