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2018 (2) TMI 70 - AT - Central ExciseInterest on irregularly availed CENVAT credit - irregular credit was reversed before utilization - whether appellant is liable to pay interest on the irregularly availed credit, which was reversed before utilization? - Held that: - pursuant to the amendment brought forth with effect from 1.4.2012, the credit availed and utilized was substituted with the words “credit availed or utilized” - the issue has been settled in the case of Commissioner of Central Excise, Madurai Vs. Strategic Engineering (P) Ltd. [2014 (11) TMI 89 - MADRAS HIGH COURT], where it was held that even prior to the amendment, the assessee cannot be liable to pay interest or penalties. The demand of interest and penalties imposed is unjustified - appeal allowed - decided in favor of appellant.
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