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2016 (2) TMI 109 - AT - Central ExciseRecovery of interest - Inadmissible cenvat credit on basic customs duty instead of CVD - entire amount of cenvat credit was later voluntarily reversed much before issuance of the show cause notice - Held that:- Undisputedly, the appellant had reversed the cenvat credit, before issuance of the demand notice. Also, it is not in dispute that demand notice was issued three years after reversal of the credit. The Ld. Commissioner (Appeals) has dropped the penalty imposed under section 11AC of CEA, 1944 by the adjudicating authority observing that there was no misdeclaration, suppression of facts etc. with intention to evade payment of duty. This findings of the Ld. Commissioner (Appeals) has not been challenged by the revenue. In this premises, it is not difficult to infer that there has been no suppression, misdeclaration etc. by the appellant. Consequently the show cause notice issued for recovery of interest issued after three years, was barred by limitation in view of the judgement of the Hon’ble Delhi High Court in Hindustan Insecticides Ltd. case (2013 (8) TMI 225 - DELHI HIGH COURT ). - Decided in favour of assessee
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