TMI Blog2016 (6) TMI 582X X X X Extracts X X X X X X X X Extracts X X X X ..... CE Madurai [2015 (10) TMI 1256 - CESTAT CHENNAI], has already held that while deciding the Ind-Swift Laboratories case the previous decision of the Supreme Court in the case of Bombay Dyeing was not brought to the notice of the Apex Court. Therefore, the contention of the Revenue on this count is unsustainable. Accordingly the impugned order is set aside. - Decided in favour of appellant - Appeal No. E/41524/2015 - Final Order No.40878/2016 - Dated:- 3-6-2016 - Shri P.K. Choudhary, Judicial Member For the Appellant : Ms. S. Sridevi, Advocate For the Respondent : Shri L. Paneerselvam, AC (AR) ORDER M/s. Komatsu India Private Ltd., appellant herein, are registered with the department for manufacture of :Drump Trucks . Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pugned order. 2. Heard both sides in the matter. 3. Ld.counsel appearing on behalf of appellant has placed reliance on the following rulings to substantiate the point that credit when availed but not utilized and reversed is a case where interest is not payable :- (1) T.V.Sundram Iyengar Sons Ltd. Vs CCE Madurai 2015 (330) ELT 333 (Tri.-Chennai) (2) CCE Vs VAE VKN Industries Pvt. Ltd. 2015 (322) ELT 269 (P H) (3) Nova Petrochemicals Ltd. Vs CCE Ahmedabad-II 2015 (330) ELT 648 (Tri.-Ahmd.) 4. On the other hand, Ld.A.R Shri L. Paneerselvam, AC (A.R) contended that the credit was availed by the appellant during the period September 2009 and the same was reversed only on 13.12.2010. it was after a gap of nearly 1 year. A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e case of Strategic Engg. Pvt. Ltd. (supra) after considering the decision of the Hon ble Supreme Court in the case of Ind-Swift Laboratories Ltd. (supra) held that mere taking credit itself would not compel the assessee to pay interest as well as penalty. It is also observed that subsequent amendment of Rule 14 of Cenvat Credit Rules would make it clear. Therefore, the impugned order holding that interest is payable merits to be set aside. In the instant case, the interest is not payable as there has been only an availment and no utilization. It is well settled that when there has been only availment and no utilization and when there is no loss to the Revenue, the question of demand of interest does not arise. The contention of the Ld ..... X X X X Extracts X X X X X X X X Extracts X X X X
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