2012 (9) TMI 141

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....pellant. Shri K.S. Chandrasekhar, JDR, for the Respondent. [Order per : M.V. Ravindran, Member (J)]. - 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....

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....takes up through the findings of Adjudicating Authority which has been upheld by the ld. Commissioner (Appeals). He would also brings to out notice the judgment of the Hon'ble High Court of Ind-Swift Laboratories Ltd. v. UOI [2009 (240) E.L.T. 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 re....

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....ble on the Cenvat credit taken and utilized wrongly. Interest cannot be claimed simply for the reason that the CENVAT credit has been wrongly taken as such availment by itself does not create any liability of payment of excise duty. On a co-joint reading of Section 11AB of the Act and that of Rules 3 and 4 of the Credit Rules, We hold that interest cannot be claimed from the date of wrong availmen....