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M/s T.V. Sundram Iyengar And Sons Ltd Versus Commissioner of Central Excise, Madurai

2015 (10) TMI 1256 - CESTAT CHENNAI

Denial of CENVAT Credit - Imposition of interest and penalty - Held that:- Para 4 of the show-cause notice makes allegation that there was utilisation of Cenvat credit of ₹ 9,14,269/- of Additional Duty of Customs taken. But taking of such cred .....

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ing the case of Indswift . For no utilisation of Cenvat credit, there shall not be payment of interest. Therefore, learned Adjudicating authority is directed to make a limited exercise to verify the quantum of the credit utilised and calculate intere .....

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f hearing to the appellant on such limited count. - Since there is confusion in law as to the admissibility of the credit and also utilisation thereof, there shall not be penalty. - Appeal disposed of. - E/S/40649/2014 , E/40460/2014 - FINAL ORDER NO .....

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nvat credit without that being permissible. However, when the appellant was legally advised that interest is payable in respect of erroneous utilisation of Cenvat credit in so far as utilisation of ₹ 9,14,269/- is concerned, interest was paid, .....

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ble. Only for a transitory period till amendment there was confusion in law as to the payment of interest. However, no demand of interest in above circumstance is the law settled in the judgment of Commissioner of Central Excise, Mumbai-I Vs Bombay D .....

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may be called for on the amount of ₹ 30,00,145/-. 3. Revenue on the other hand opposes aforesaid proposition of assessee. 4. Heard both sides and perused the records. 5. Para 4 of the show-cause notice makes allegation that there was utilisati .....

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