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2019 (2) TMI 666 - AT - Central ExciseLiability of Interest and penalty - irregularly availed CENVAT credit but not utilized - Held that:- Reliance placed in the judgment of the Hon’ble Karnataka High Court in the case of Bill Forge Ltd. [2011 (4) TMI 969 - KARNATAKA HIGH COURT] wherein the Hon’ble High Court has held that assessee is not liable to pay interest if the assessee has reversed CENVAT credit before utilization of the same - Further the issue of the appellant is covered by the Larger Bench decision of the Tribunal in the case of J.K. Tyre & Industries Ltd. Vs. AC of Central Excise, Mysore [2016 (11) TMI 911 - CESTAT BANGALORE]. The impugned order demanding penalty and interest is not sustainable in law - appeal allowed - decided in favor of appellant.
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