TaxTMI 
TaxTMI 
2008 (7) TMI 774
X X X X Extracts X X X X
X X X X Extracts X X X X
....r the Respondent. [Order]. - When the Stay matter was called for hearing today, both the parties agreed that since the issue involved is in a very narrow compass, both the Stay Petition and the Appeal may be disposed. Accordingly, with the consent of both sides, both the matters are being disposed by this common Order. 2.1 Shri Malay Dhar, learned Advocate appearing for the Appellant subm....
X X X X Extracts X X X X
X X X X Extracts X X X X
....that is established fact from the impugned Order. 2.2 He submitted that the above argument is in respect of the Cenvat credit of Rs. 1,07,089.00 availed against total demand of Rs. 1,90,815.00 (Rupees one lakh ninety thousand eight hundred and fifteen). Balance amount relates to allegation of availment of credit against the goods not used in manufacture. He submitted that the goods are norma....
X X X X Extracts X X X X
X X X X Extracts X X X X
....te Order at page 3. The Appellant proved its bona fides reversing the credit suo motu, even though learned Appellate Authority observed that such act was done after detection. The Appellate Order not being speaking, he only suggests that the Order is unsustainable to the extent of such a finding. Therefore, this Forum may leniently consider on the quantum of imposition of penalty. 3. Support....
X X X X Extracts X X X X
X X X X Extracts X X X X
....r. Looking to the duration of availment of the Cenvat Credit of the aforesaid amount not permissible to the Appellant, they should pay interest for abuse of Credit without actual Credit on record for the limited period at the applicable rate to the treasury for the loss of revenue in between the date of availment of Credit and the date of reversal. The Authority should work out the interest payabl....