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JK Tyre & Industries Ltd. Versus Asst. Commissioner of Central Excise

2015 (11) TMI 511 - CESTAT BANGALORE

Benefit of CENVAT Credit - Assessee availed CENVAT credit in respect of certain invoices twice - Imposition of interest u/s 11AB - Held that:- As there are two contrary decisions of the High Courts, one by the Hon’ble Karnataka High Court [2011 (4) T .....

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nt for constitution of a Larger Bench on the following question of law:-

When the wrongly availed credit is reversed before utilising the same, whether interest liability would arise in respect of the same or not. - E/493/2012-SM - Final O .....

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lant is engaged in the manufacture of tyres, tubes and flats, falling under Chapter 40 of Central Excise Tariff Act, 1985. They were also availing the benefit of CENVAT credit of duty paid on inputs, capital goods as also input services. During the a .....

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. On the above basis, proceedings were initiated against them by way of issuance of a show-cause notice dt. 17/12/2009 proposing to confirm the interest and imposition of penalty upon them. The said show-cause notice culminated into an order passed b .....

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CENVAT Credit Rules. The said order stands upheld by the Commissioner(Appeals). 3. Hence the present appeal. 4. Learned advocate Shri Dattatray D Bhat relies upon the Hon ble Karnataka High Court s decision in the case of CCE&ST, LTU, Bangalore .....

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edit does not stand utilised by the assessee and is reversed before utilisation, no interest liability would arise against them. As such, he submits that inasmuch as the credit having been taken inadvertently stands reversed by them even before utili .....

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onsible for making entries in their CENVAT account and is not attributable to any mala fide, in which case, there is no justification for imposition of penalty. 5. As against the decision of the Hon ble Karnataka High Court, learned AR has brought to .....

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