TMI Blog2017 (7) TMI 1031X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Hon'ble Karnataka High Court in the case of Bill Forge Pvt. Ltd. [2011 (4) TMI 969 - KARNATAKA HIGH COURT], where it was held that if the credit availed is not utilized there is no liability to pay interest - appeal dismissed - decided against Revenue. - E/20233/2015-SM - 20991/2017 - Dated:- 9-6-2017 - Shri SS Garg, Judicial Member Shri K. T. Pakshirajan, Assistant Commissioner (A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty One Thousand Four Hundred and Seventy only) irregularly availed during the period April 2011 to March 2012. On being pointed out the discrepancy, the assessee reversed the credit availed immediately. However the assessee had not paid the interest as required under the provisions of Rule 14 of the Cenvat Credit Rules 2004. On these allegations, a show-cause notice dated 19.03.2013 was issued by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ge Pvt. Ltd - 2012 (279) E.L.T. 209 (Kar.). Aggrieved by the said order, the Revenue has filed the present appeal. 2. Heard both the parties and perused the records. 3. Learned AR for the Revenue submitted that the impugned order is not sustainable in law because the same has been passed by ignoring the judgment of the Hon'ble Supreme Court in the case of Union of India Vs. Ind-Swift ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ka High Court has been followed by the Larger Bench of the Tribunal in the case of J.K. Tyre Industries Ltd Vs. Asst. Commr. of C.Ex, Mysore reported in 2016 (340) E.L.T. 193 (Tribunal-LB) wherein the Larger Bench has concurred with the decision of the Karnataka High Court that there will be no interest liability on the appellant who has only availed incorrect credit and reversed it before u ..... X X X X Extracts X X X X X X X X Extracts X X X X
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