2012 (9) TMI 857

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..... nstead of availing 50% of cenvat credit on the capital goods received in the year, appellant has availed 100% cenvat credit during the three financial years 2005-06, 2006-07 and 2007-08. Proceedings were initiated and in the impugned order, the cenvat credit of Rs. 7,95,986/- has been denied and demanded with interest. However, no penalty has been imposed. 2. Learned advocate submits that the cre .....

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..... eligible amount of credit in each year and pay interest for the inadmissible credit availed by them. The offer made by the learned advocate to recalculate the credit admissible and to work out the amount of interest payable, is fair and acceptable. 4. Accordingly, the demand for cenvat credit is set-aside and appellant is directed to calculate the credit admissible year-wise and interest payable .....

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