TMI Blog2021 (12) TMI 428X X X X Extracts X X X X X X X X Extracts X X X X ..... he issue and held that although the credit taken but the same remained unutilized, in that circumstance, no interest is payable. But the said issue has been considered in the case of THE COMMISSIONER OF CENTRAL EXCISE VERSUS M/S. SUNDARAM FASTENERS LIMITED [ 2014 (2) TMI 551 - MADRAS HIGH COURT] to say that the interest is payable. As there are contradictory decisions of the Hon ble High Courts after the decision of Hon ble Apex Court. In that circumstance, the issue is to be decided by this Tribunal independently. This Tribunal in the case GTL INFRASTRUCTURE LTD. VERSUS COMMISSIONER OF SERVICE TAX, MUMBAI [ 2014 (9) TMI 647 - CESTAT MUMBAI] has taken a view that in case where the credit is taken earlier has been reversed without utili ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... invoking extended period of limitation and the matter was adjudicated and confirmed the demand of interest and penalty is also impose. Against the said order, the appellant is before me. 3. Ld.Counsel for the appellant submits that although the credit was taken but the same was not utilized and remained unutilized. The credit was reversed by the appellant on pointing out by the audit team in March, 2010 itself. Therefore, they were not required to pay interest and no penalty is imposable. In support of his contention, he relied on the decision of this Tribunal in the case of GTL Infrastructure Limited vs. CST, Mumbai-2015 (37) STR 577 (Tri.-Mum). 4. It is his submission that the audit was conducted in March, 2010 and reversed the cred ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble Karnataka High Court in the case of Bill Forge Pvt.Ltd.-2012 (279) ELT 209 (Kar.) in which case the Hon ble High Court has examined the issue and held that although the credit taken but the same remained unutilized, in that circumstance, no interest is payable. But the said issue has been considered in the case of Sundaram Fasteners to say that the interest is payable. As there are contradictory decisions of the Hon ble High Courts after the decision of Hon ble Apex Court. In that circumstance, the issue is to be decided by this Tribunal independently. 10. This Tribunal in the case GTL Infrastructure Limited (supra) has taken a view that in case where the credit is taken earlier has been reversed without utilizing the same, in that ..... X X X X Extracts X X X X X X X X Extracts X X X X
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