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2015 (12) TMI 879 - CESTAT BANGALORE

2015 (12) TMI 879 - CESTAT BANGALORE - TMI - Demand on interest on reversal of CENVAT Credit - credit was availed but not utilized - Held that:- Appellant has placed the Cenvat Credit Register during the relevant period before me and it was clear that when credit was taken from February 2008 up to July 2009, balance has not come down below the figure of ₹ 33,15,661, the disputed amount. In July 2009, this amount has been reversed. Further, in reply to the show-cause notice, the appellants .....

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rthy, Member (T) For the Appellant : Ms Sandhya & M/s V Lakshmikumaran & V Sridharan, Advs. For the Respondent: Mr R Gurunathan, AR JUDGEMENT Per: B S V Murthy: Cenvat credit of ₹ 33,15,661/- for the period February 2009 to March 2009 held to be availed irregularly and has been demanded with interest and penalty has also been imposed. The appellants are not challenging the stand taken by the Revenue that the credit is not admissible. The claim of the appellant is that interest is n .....

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posable. She relies on the decision of Hon'ble High Court of Madras in the case of Commissioner of C. Ex., Madurai vs. Strategic Engineering (P) Ltd. [2014 (310) E.L.T. 509 (Mad.)]. 4. Learned A.R. submits that this submission has not been considered by the lower authorities and therefore, there is a need for verification as regards the claim of the appellant that credit has not been utilized. 5. I have considered the submissions made by both the sides. As regards the submission of learned A .....

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