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2011 (9) TMI 320 - AT - Central ExciseInterest and penalty - Respondents had taken excess credit due to clerical error and they have reversed the credit as soon as it was pointed out by the audit - Revenue has pointed out that the respondents have taken excess credit on nine occasions - Considering the same, as well as the decision of the Hon ble Supreme Court in the case of Ind-Swift Laboratories (2011 (2) TMI 6 - Supreme Court)and the provisions of Rule 14(1), held that some penalty is required to be imposed on the respondents to act as a deterrent resulting in availment of ineligible credit in future - Considering all the aspects of the case as well as the fact that the appellants are admitting to interest liability of ₹ 9,005/-, the order of the authorities below in regard to penalty are modified and the respondents are directed to pay a penalty of ₹ 10,000/-
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