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2016 (7) TMI 488 - AT - Central ExciseRecovery of wrongly availed cenvat credit on the goods transport agency service utilized for outward transportation of goods which is beyond the place of removal i.e. factory gate - Held that:- As find from available records that the cenvat credit taken irregularly has not been utilized for payment of Central Excise Duty on removal of the finished goods. Thus, there is no loss of Revenue, and as such, interest demand for late reversal of cenvat credit is not proper. In this context, the Honble Karnataka High Court in an identical set of facts in the case of Bill Forge (2011 (4) TMI 969 - KARNATAKA HIGH COURT ) have held that the assessee have not taken or utilized the credit but only availed wrong credit in their account book and on pointing out the mistake, since the assessee reversed the entry, it cannot be said that any benefit of such wrong entry was taken, and thus, the interest is not payable. Interest cannot be demanded from the appellant, since the credit taken has not been utilized for payment of Central Excise duty.
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