9911796707
TMI Blog2015 (11) TMI 1604X X X X Extracts X X X X X X X X Extracts X X X X ..... er S K Mohanty: Order for recovery of interest under Section 75 of the Finance Act and imposition of penalty under Rule 7(C) of the Service Tax Rules, 1994 are the subject matter of the present dispute. 2. Sh. Bipin Garg the Ld. Advocate appearing for the appellant submits that irregularly availed cenvat credit which was subsequently reversed later on, has not been utilized by the appellant for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mmissioner of Service Tax, Delhi-I reported in 2015 (38) S.T.R. 437 (Tri. Del) to justify that no interest is payable in the circumstances of the present case. The Ld. Advocate further submits that since the return was originally filed in the month of June and due to some problem in the computer, the said return was not accepted on the date of filing and subsequently accepted in the month of Septe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ued as a mere book entry, for which there is no loss of Revenue to the Government Exchequer. Interest is compensatory in character and the same is required to be paid when there is delay in payment of the principal amount. In the present case, since admittedly there is no delay in payment of service tax, I am of the view that provisions of Rule 14 of the Cenvat Credit Rules, cannot be invoked for ..... X X X X Extracts X X X X X X X X Extracts X X X X
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