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2018 (8) TMI 1497 - AT - Central ExciseLiability of Interest and penalty - On being pointed out about the mistake, the credit, having been reversed before utilization - Held that:- The appellant has reversed a substantial portion of the irregularly availed credit to the tune of ₹ 1,70,290/- along with interest before the issuance of the Show Cause Notice. A small differential amount of ₹ 6,296/- was also reversed by them after passing of the order in original - It is also brought out that the appellants had sufficient credit balance and the wrongly availed credit was reversed before utilization. Interest and penalty set aside without disturbing the confirmation of demand or interest already paid - appeal allowed in part.
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