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2018 (8) TMI 998 - CESTAT ALLAHABADWhether interest and penalty are required to be paid by the appellants on such Cenvat credit which was reversed before utilization? Held that:- The ruling by Hon’ble Allahabad High Court in the case of Commissioner of Customs & Central Excise, Meerut-II Vs M/s Rana Sugar Ltd. [2010 (3) TMI 412 - ALLAHABAD HIGH COURT] is squarely applicable in the facts of the present case, where it was held that if CENVAT credit is reversed before utilization then there is no need for payment of interest on availment of such Cenvat credit and if the show cause notice is issued after reversal of Cenvat credit then penalty is not to be imposed. Appeal allowed - decided in favor of appellant.
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