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2018 (1) TMI 356 - AT - Central ExciseInterest on wrongly availed CENVAT credit - primary defence of the appellants is that they have not utilised the said credit and it was merely a book entry - Held that: - the entire credit available at the end of the month of May 2011 was utilised by the appellants in the month of June itself. In these circumstances, it cannot be said that the credit taken was not utilised and was merely a book entry. In these circumstances, the provisions of Rule 2014 are clearly attracted and appellant is liable to pay interest and penalty. Extended period of limitation - Held that: - The appellant had not noticed this for almost one and half years during which they would have got their annual report made and accounts audited for preparing balance sheet. It cannot be but a result of deliberate act - the invocation of extended period is justified. Appeal dismissed.
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