TMI Blog2018 (1) TMI 627X X X X Extracts X X X X X X X X Extracts X X X X ..... 6 - Supreme Court] case has held that interest is leviable if the Cenvat credit has been wrongly taken but not utilised - the Adjudicating Authority has rightly upheld the levy of interest. Penalty - Held that: - the Central Excise duty was imposed on coal for the first time in the year 2011. The dispute of wrong availment of Cenvat Credit on capital goods is for the period immediately after ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ces under Cenvat Credit Rules, 2004. The dispute in the present case is whether the interest liability and penal provisions are attracted in respect of reversal of Cenvat credit availed in excess. The Department noticed that the appellant had availed 100 per cent Cenvat credit on capital goods instead of 50 per cent allowed at the time of receipt of capital goods as per the Cenvat Credit Rules. Du ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ad taken 100 per cent of the credit on capital goods by mistake, they have not utilized more than 50 per cent of the Cenvat Credit. Accordingly, it is his submission that no interest will be liable to be paid. He further submitted that the penalty imposed is not justified and may be set aside. He also relied on the case of Commissioner of Central Excise, Bangalore V/s Bill Forge Pvt. Ltd reporte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pointed out, the appellant promptly reversed the same. The dispute is however with reference to payment of interest. The appellant has relied on the decision of Hon ble Karnataka High Court (supra) in which it has been held that no interest is payable whereas the Apex Court in the case of Ind-Swift Laboratories Ltd. (supra) case has held that interest is leviable if the Cenvat credit has been ..... X X X X Extracts X X X X X X X X Extracts X X X X
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