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2015 (10) TMI 771 - CESTAT BANGALORE

2015 (10) TMI 771 - CESTAT BANGALORE - TMI - Denial of CENVTA Credit - Capital goods - Held that:- as per the Hon’ble High Court of Karnataka in the case of CCE&ST, LTU, Bangalore Vs. Bill Forge Pvt. Ltd. [2011 (4) TMI 969 - KARNATAKA HIGH COURT] wherein it was held that if credit has been inadvertently taken and stands reversed before utilization, no interest liability would arise against them. Revenue has also not given any reasons as to whether the said credit so availed and reversed was util .....

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arned Mr. Mohd. Yousaf, Addl. Commissioner (AR). Nobody appeared for the respondent. The respondent had taken the entire 100% credit of duty-paid on capital goods at the time of receipt of the same whereas they were required to take 50% of the credit only in the first financial year and balance 50% in the next financial year. However, on being pointed out by the Revenue, they reversed the excess credit taken by them. The proceedings were initiated against them for confirmation of interest and im .....

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