TMI Blog2014 (2) TMI 567X X X X Extracts X X X X X X X X Extracts X X X X ..... zed in respect of any short levy arising because of wrong utilization of Cenvat credit. In view of the above position, the submission that the provisions of Section 11A(2B) is attracted is valid. Interest is payable whether Cenvat credit has been utilized or not. Therefore the interest quantified by the appellant and adjusted against the rebate claim filed by the appellant is actually payable and has already been paid and therefore the same is confirmed - wrong practice occurred because of non-modification of the software; bona fide belief of the appellants as regards the liability, wrong payment of amount short paid for the period before issue of show cause notice without waiting for proceedings; the payment of dues for the one year per ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. The appellant submitted that extended period could not have been invoked because the short payment occurred due to non-modification of the software utilized by them for maintenance of Cenvat credit account. The software had been designed to pay tax on the transaction value but when the amendment took place it was not modified. The claim of bona fide belief arising because of these difficulties has been accepted by the learned Commissioner (Appeals) in the impugned order and the only question that remains in the appeals is whether penalty of Rs. 2 lakhs is imposable and whether the appellant is liable to pay interest of Rs. 1,02,599/-. The interest amount is also the amount as per the quantification done by the appellant. 4. The lear ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... excess payments. 5. I have considered the submissions made by the learned Chartered Accountant. I find that as submitted by the learned Chartered Accountant, during the relevant period there were decisions that if the Cenvat credit has not been utilized, no interest is payable. Further, it was also a prevailing view that if excess Cenvat credit is available in the books, it would result in a situation whereby the Cenvat credit has not been utilized in respect of any short levy arising because of wrong utilization of Cenvat credit. In view of the above position, the submission that the provisions of Section 11A(2B) is attracted is valid. However, at present the law as settled by the decision of the Hon ble Supreme Court that interest is p ..... X X X X Extracts X X X X X X X X Extracts X X X X
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