2007 (7) TMI 503

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.... [Order]. -  Heard both sides on the stay petition for a while and felt that as only a short point is involved, the appeal itself could be disposed and therefore, waiving pre-deposit of amount involved, I proceed to hear the appeal for final disposal. 2. On 1-11-2004, the appellant took by mistake excess credit of Rs. 34,76,506/- and that the mistake has occurred when taking credit on....

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....terest does not refer to utilization and taking wrong credit also leads to liability of interest. As regards the penalty, the ld. DR submits that the Original Authority did not impose any penalty on the appellant and the Commissioner (Appeals) imposed a penalty of Rs. 2 lakhs on the company, appeal by the Department and the same may be sustained. 5. I have carefully considered the submission....