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2015 (10) TMI 2205 - AT - Central ExciseManufacture and captive consumption of HR Strips - demand of duty denying the exemption under notification 67/95 dated 16.03.1995 - Imposition of penalty and interest - Held that:- Where duty is demanded the appellant were required to pay a sum of ₹ 6,67,400/- whereas they are entitled for deemed credit during the period is ₹ 7,09,817/-. Therefore, the appellant have entitled more credit than the payment of duty. Moreover, appellant has paid excess duty of ₹ 17,640/- during the impugned period as per the calculations. In these circumstances, we hold that interest is not payable by the appellant. Further, in the absence of any mensrea on the part of the appellant penalty is not imposable which is evident that after allowing deemed credit to the appellants, appellant has paid duty in excess. Therefore, malafides were not proved against the appellant. In these circumstances, penalty is also not imposable - Demand of interest and penalty are not sustainable on the appellant - Decided in favour of favour of assessee.
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