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2017 (3) TMI 1137 - AT - Central ExciseCENVAT credit - parallel flange beam/column used in the manufacture of crane, discharge, chute, crane, gantry, crane column etc - trailer truck - interest - Held that: - the appellant M/s Jindal Steel & Power Ltd. is entitled to Cenvat credit on the subject inputs as the same have been used for manufacturing of capital goods which in turn have been used for manufacture of final product (sponge iron and hot re-rolled products) by the appellant company. The subject inputs are covered by the definition of input as laid down in Rule 2 (k) of CCR, 2004 - credit allowed. Interest - Held that: - The appellant has taken Cenvat credit wrongly/ inadvertently or on account of clerical errors / short receipt of material etc. though the same was reversed later - considering the Hon’ble Supreme Court’s decision in the case of Ind-Swift Laboratories [2011 (2) TMI 6 - Supreme Court], the interest on the Cenvat credit amount for the period, when it was lying in the account of the assessee, is liable to be paid - the matter is remanded to the original adjudicating authority who shall decide the issue of amount of interest. Appeal allowed - part matter on remand for quantification - decided in favor of assessee.
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