2010 (1) TMI 1018

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....ed against the Order-in-Appeal No. 151/2007-C.E., dated 23-3-2007. 2. The relevant facts that arise for consideration are the respondents availed 100% of Cenvat credit in respect of capital goods received into their factory in the same financial year, in which the capital goods were received. On being pointed out, respondents reversed the excess credit availed by them on 29-12-2005. Show cause no....

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.... has disputed the waiver of interest on Cenvat Credit wrongly availed. The adjudicator had not demanded interest on the ground that credit availed was always available in balance and was not used for paying duty till the date of its reversal. I find that adjudicator's ground for not demanding interest is fully justified. Moreover the wrongly taken credit was fully reversed before issue of show ca....

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....ing Rs. 1,95,658/- was reversed by the assessee only after pointing out of the irregularity by the Range Officer, on 29-12-2005 while credit was availed in the month of June 2005. Therefore, the assessee has enjoyed undue financial accommodation in the form of availment of irregular Cenvat credit till the time the same was pointed out by the department. (iii)   Rule 14 of Cenvat Credit ....

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....es, 2004, while passing the Order-in-Original in so far as charging of interest is concerned. 5.  We have considered the submissions made by the learned DR and perused the records. It is seen from the records that the respondents' contention that they have not utilized the amount of credit taken by them is not being disputed by the Revenue in their grounds of appeal. It is also a factual fin....