TMI Blog2018 (3) TMI 270X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee deposits the entire tax within the period of six months from the date of receipt of assent of the President to the Finance Bill, 2012, the penalties would not be imposable - In the present case the entire deposits were made in the year 2010 itself. As such, no penalty is required to be imposed upon him. Interest and penalty set aside - appeal allowed - decided in favor of appellant. - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts were not paying service tax, the same was not being deposited by him. However, on being pointed out by the audit, the appellant deposited the short paid service tax. 3. In the above scenario the proceedings were initiated against the appellant for confirmation of interest in respect of short paid service tax as also in respect of reversal of credit. The said show cause notice was raised by i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by limitation. Accordingly the same is set aside. In addition to the demand being barred by limitation, it is also seen that no interest would be leviable on the reversed credit amount, inasmuch as the same was lying unutilized in the assessee s Cenvat Account. The Hon ble Karnataka High Court in the case of Commissioner Vs. Bill Forge Pvt. Ltd. reported at 2012 (279) ELT 209 (Kar.) has ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l, 2012 is to the effect that if an assessee deposits the entire tax within the period of six months from the date of receipt of assent of the President to the Finance Bill, 2012, the penalties would not be imposable. In the present case the entire deposits were made in the year 2010 itself. As such, no penalty is required to be imposed upon him. 7. In view of the above, the interest confirmati ..... X X X X Extracts X X X X X X X X Extracts X X X X
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