TMI Blog2018 (1) TMI 356X X X X Extracts X X X X X X X X Extracts X X X X ..... umstances, it cannot be said that the credit taken was not utilised and was merely a book entry. In these circumstances, the provisions of Rule 2014 are clearly attracted and appellant is liable to pay interest and penalty. Extended period of limitation - Held that: - The appellant had not noticed this for almost one and half years during which they would have got their annual report made and a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hould not be demanded and penalty should not be imposed. They also challenged the demand of credit on the ground of limitation ascertaining that ingredients for invoking the extended period of limitation are not available in the instant case. Ld. Counsel relied on the decision of Hon'ble High Court of Madras in the case of Strategic Engineering (P) Ltd. 2014 (310) ELT 509. He also argued t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2012 after more than one and half years of wrong availment. The primary defence of the appellants is that they have not utilised the said credit and it was merely a book entry. In support of same, they have produced the summary of CENVAT of 2011-12 and 2012-13. It is seen that the closing balance in the month of May was as under:- Month Closing Balance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t be said that the credit taken was not utilised and was merely a book entry. In these circumstances, the provisions of Rule 2014 are clearly attracted and appellant is liable to pay interest and penalty. 7. Ld. Counsel has sought to invoke the provisions of limitation in their support. It is seen that the credit wrongly availed amounts to ₹ 25 lakhs which is not a small sum. It is not ..... X X X X Extracts X X X X X X X X Extracts X X X X
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