TMI Blog2015 (12) TMI 601X X X X Extracts X X X X X X X X Extracts X X X X ..... agreed that the interest on the irregularly taken credit may be payable. In view of the case law of Market Systems Ltd Vs CCE & ST Vadodara-II (2014 (6) TMI 33 - CESTAT AHMEDABAD), passed by the Bench, it is held that the interest on the in-admissible CENVAT Credit taken is payable by the Appellant. So far as the imposition of penalty upon the Appellant under Rule 15(4) of CENVAT Credit Rules 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 012 - - - Dated:- 9-6-2015 - H K Thakur, Member (T),J. For the Appellant : Shri Willingdon Christian, Adv For the Respondent : Shri G Jha, AR ORDER Per: H K Thakur: This appeal has been filed by the Appellant against OIA No.SSP/25/SRT-I/2012, dt.21/09/2012 passed by the First Appellate Authority. Shri Willingdon Christian, learned Advocate on behalf of the Appellant argued ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appeal is from October 2009 to July 2010 and the same was reversed on 16.10.2012. It was fairly admitted by the learned Advocate that interest with respect to in-admissible credit may be required to be paid by the Appellant. 2. The learned Advocate also argued that penalty imposed by the Adjudicating authority under Rule 15(4) of CENVAT Credit Rules 2004 read with Section 11AC of Central Excis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s and perused the case records. The appellant has already paid the entire CENVAT Credit demand on GTA services on 16.07.2012. During the course of hearing, the learned Advocate appearing on behalf of the Appellant fairly agreed that the interest on the irregularly taken credit may be payable. In view of the case law of Market Systems Ltd Vs CCE ST Vadodara-II (supra), passed by the Bench, it is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for imposition of penalty under Rule 15(4) of CENVAT Credit Rules 2004. The appeal filed by the Appellant to that extent is required to be allowed. 6. Based on the above observations and settled preposition of law, the appeal filed by the Appellant is allowed only to the extent of setting aside the penalty imposed under Rule 15(4) of CENVAT Credit Rules 2004. Dictated and pronounced in Cour ..... X X X X Extracts X X X X X X X X Extracts X X X X
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