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2009 (7) TMI 294 - AT - Central ExciseModvatable input stock of the appellant was destroyed on account of heavy rains. The appellants reversed the credit of duty so availed in respect of said input. The dispute in the present appeal relates to only interest of Rs. 32,530/- and penalty of Rs. 3,000/- imposed upon the appellant under Rule 15 of Cenvat Credit Rules, 2004 read with Section 11AC of CEA, 1944. – Held that interest is not leviable - there was no mala fide on the part of the assessee and loss of the goods was on account of natural cause – hence, held that imposition of penalty in such circumstances is not called for
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