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2017 (10) TMI 496 - AT - Central ExciseDemand of interest - CENVAT credit taken wrongly - appellant has immediately reversed the CENVAT credit excess taken by them - Rule 3(7)(a) of CCR, 2004 - Held that: - It is a fact on record that the appellant was having sufficient balance in their Cenvat credit account - following the ratio laid down by Hon’ble Karnataka High Court in the case of Bill Forge [2011 (4) TMI 969 - KARNATAKA HIGH COURT], the appellant is not liable to pay the interest - demand of interest set aside. Penalty - Held that: - the appellant immediately reversed the CENVAT credit excess availed by them on pointing out by the department. Therefore, in that circumstances, malafide cannot be attributable against the appellant and no proceedings were required to be initiated against the appellant u/s 11A (2B) of the Act - penalty set aside. Appeal allowed - decided in favor of appellant.
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