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2016 (7) TMI 1105 - AT - Central ExciseWrongful use of Cenvat credit - voluntary payment of interest - Refund of the amount encashed through bank guarantee - Held that:- As find that the orders of Settlement Commission has not been challenged by the Revenue and therefore, has become final. The Settlement Commission in its second order has clearly ordered that the interest of ₹ 1,46,827/- payable against the wrongful credit of ₹ 17,31,711/- to be adjusted against the excess duty paid by the appellant to ₹ 2,13,678/-. In these circumstances, the revenue has not the authority to encash the bank guarantee. However, it is seen that the amount of ₹ 44,443/- was paid against the earlier order of the Settlement Commission in which there was no such direction. Encashment of bank guarantee by the Revenue is contrary to the orders of the Settlement Commission dated 09/07/2008 and needs to be refunded to the appellant.
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