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TMI Blog2018 (2) TMI 1009X X X X Extracts X X X X X X X X Extracts X X X X ..... s. Rohm & Haas (India) Pvt. Ltd. against demand of interest and imposition of penalty in respect of wrongful cenvat credit availed and reversed by the appellant. 2. Learned counsel for the appellant pointed out that during the period 2006-07 to 2008-09, the appellant had availed wrongful credit. The excess credit availed was pointed out in audit and the appellant reversed the same on 27th & 28th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the credit is taken and utilized, no demand of interest can be invoked. She further argued that since show cause notice has been issued on 6.1.2014, part of the demand is even beyond five years period. She further argued that the show cause notice does not raise any demand of reversal of credit and in absence of that, no proposal for interest and penalty can be raised. She relied on the decision ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he said table, it is apparent that the credit utilized in most of the months is in excess of the credit available as closing balance in the previous months. In these circumstances, it cannot be said that the appellant has not utilized the credit wrongly availed. 5. Moreover, Hon'ble High Court of Bombay in the case of GL&V India Pvt. Ltd. - 2015 (321) ELT 611 (Bom.) has held that interest can be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ecific circumstances where the appellant had not followed the proper procedure and bank guarantees were not kept alive. Relying on the decision of the Tribunal in the case of Emco Ltd. (supra), I hold that the period of limitation would be applicable to demand of interest and demand only within five years from the date of issuance of the same can be upheld. The impugned order is modified to that e ..... X X X X Extracts X X X X X X X X Extracts X X X X
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