TMI Blog2009 (6) TMI 906X X X X Extracts X X X X X X X X Extracts X X X X ..... st of Rs. 1,94,867/- and penalty of Rs. 10,000/-. 2. After hearing both the sides and on perusal of the records, I find that the appellants during the period July, 2002 to September, 2003 taken Cenvat Credit of Rs. 8,70,515/- on waste cloth. They reversed the entire credit on 21-9-2004 vide RG-23A Part-II Sl. No. 510 and 511 both dated 21-9-2004. A show cause notice dated 19-1-2006 was issued fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt of interest is not sustainable. 4. In this context, ld. DR submits that the Rule prescribed the payment of interest on taking of the credit. I find that the Tribunal in the case of Lafarge India Pvt. Ltd. reported in 2009 (245) E.L.T. 533 (Tri.) = 2008 (85) RLT 832 (CESTAT-Delhi) held that interest is not leviable when wrongly taken credit has not been utilised under Rule 12 of Cenvat Credit ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
