2010 (1) TMI 1018

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....ondent. ORDER This appeal is directed 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 a....

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....g the following findings : "The department 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 cr....

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....o the extent of Rs. 1,91,823/- + 3,835/- (Ed. Cess) totaling 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....

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....;interpreted the provisions of Rule 14 of Cenvat Credit Rules, 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....