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2018 (3) TMI 757 - AT - Central ExcisePenalty - interest - Reversal of CENVAT credit - Held that: - the appellant had reversed CENVAT credit but it was held by the first appellate authority that no documentary evidence to that effect had been provided. The original authority, in order-in-original, acknowledges the reversal of CENVAT credit and, therefore, renders the proceedings for recovery to be a non-starter - penalty not warranted. Interest - Held that: - interest liability is modified to such extent that the utilization of CENVAT credit before the date of reversal did not fall below the amount so reversed and the interest liability restricted only to such deficits as are evidenced in the CENVAT credit account - Subject to any interest liability remaining consequent upon such ascertainment the impugned order is set aside except to the extent that the amount of CENVAT credit wrongly taken has been reversed and appropriated. Appeal disposed off.
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