TMI Blog2008 (2) TMI 110X X X X Extracts X X X X X X X X Extracts X X X X ..... [Order per]- This appeal is directed against the Order-in-Appeal No. RKR (135)13/2007 dtd.18.7.2007. Vide which the Ld. Commissioner (Appeals) has set aside the order-in-original, which dropped the proceedings initiated by the show cause notice in respect of the amount of interest chargeable from the current appellant. 2. Heard both sides and perused the records. 3. The relevant facts in this case the appellant availed cenvat credit of Rs.8,88,599/- and Rs.375/- as Education Cess. On checking of the record on their own the appellant noticed that they had availed credit, which is not eligible to them and reversed the same on 10.4.05 and 28.4.05 and intimated the jurisdictional Superintendent about the same. Subsequently, on 25. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... llant and respondent and in course of personal hearing. The case law cited by the appellant seeking relief from payment of interest amount vide 2004 (62) RLT 709 has since been set aside. Interest demand is maintainable as per provisions of law. The extent of penalty, however is brought down to Rs.5000/- only in this case as per the facts circumstances of the case". 4. It is contended before me by the representative of the appellant that the issue of payment of interest on the amount, would not arise. He draws attention to the page 30 wherein the appellant has given the details of the balance of cenvat credit in the statutory records for the entire period i.e. April 2004 to April 2005. It is his submission that for the entire ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... neligible credit of Rs.8,85,597/- and Rs.375/- as Education Cess, was done by the appellant themselves in April 2005. The said reversal was informed to the Range Officers vide letter dt.30.6.2005. It is also undisputed that the balance of the cenvat credit lying in the statutory records of the appellant for the period April 2004 to April 2005 at the end of every month was more than Rs. 35 lakhs. To my mind, the issue in this case is whether the interest is chargeable or not is squarely settled by the Hon'ble High Court of Punjab and Haryana decision in the case of Maruti Udyog Ltd. (Supra). Their Lordships were hearing an appeal filed by the Revenue against the Tribunal's judgment, which held that assessee is not liable to pay interest ..... X X X X Extracts X X X X X X X X Extracts X X X X
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