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2018 (1) TMI 627 - AT - Central ExciseWhether the interest liability and penal provisions are attracted in respect of reversal of Cenvat credit availed in excess? - CENVAT credit on capital goods taken at 100% and is reversed on being pointed out - Held that: - Apex Court in the case of Ind-Swift Laboratories Ltd. [2011 (2) TMI 6 - Supreme Court] case has held that interest is leviable if the Cenvat credit has been wrongly taken but not utilised - the Adjudicating Authority has rightly upheld the levy of interest. Penalty - Held that: - the Central Excise duty was imposed on coal for the first time in the year 2011. The dispute of wrong availment of Cenvat Credit on capital goods is for the period immediately after introduction of such Excise Duty - the mistake was inadvertent and unintentional - penalty set aside. Appeal allowed in part.
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