2011 (1) TMI 837

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....har, JDR for the Revenue. Per M.V.Ravindran This stay petition is filed for waiver of pre-deposit of the following amounts:- a. Interest Rs.2,50,177/- b. Penalty Rs.27,33,155/-  2.Heard both sides and perused the records. 3.After hearing both sides on merits of the case and on the stay petition, we find that the appeal itself could be disposed off at this juncture since the ....

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....would also brings to our notice the judgment of the Hon'ble High Court of Ind-Swift Laboratories Ltd. Vs. UOI [2009(240) ELT 328 (P&H)]. 5. Ld. DR on the other hand would submit that the liability to interest would arise where the Cenvat Credit has been taken wrongly but reversed by the assessee before utilization of the credit. He would submit that the Cenvat Credit has been wrongly taken and ....