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2017 (5) TMI 1247 - AT - Central ExciseCENVAT credit - wrong availment of CENVAT credit - full amount has been reversed by the appellant - Held that: - The excess availment and its reversal has been duly entered in the statutory return filed by the appellant. In such situation, there is no ground to invoke penal proceedings against the appellant. There is no legal basis to impose penalty of equivalent amount invoking provisions of Section 11AC of CEA, 1944 and Section 78 of the FA, 1994. Liability of interest - Held that: - before utilisation of credit if the same has been reversed will amount to not taking credit and would not attract liability of interest - Interest liability shall be only with reference to the credit which are put to use to discharge duty on final products. There is no justification to demand and recover again the erroneous credit which is already reversed by the appellant - appeal allowed - decided in favor of appellant.
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