TaxTMI 
TaxTMI 
2013 (7) TMI 567
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....nd that in appeal No. 2549/2010, the dispute relates to interest on the wrongly availed credit of Rs.5,557/-. Admittedly, the interest on the said amount is going to be much less than the principal amount. As such, I find no justifiable reason for the Revenue to file the appeal against the amount which is much less Rs.5,000/-. However, Keeping in view that the issue involved is important and the identical issue is involved in other appeals, I proceed to decide the same on merits. 2. The appellants are engaged in manufacture of sugar and were availing the benefit of Cenvat credit of duty paid on various inputs as also on capital goods. However, while availing the Cenvat credit in respect of capital goods, it seems that they availed the cred....
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....Bangalore vs. Pearl Insulation Ltd. [2012 (281) ELT 192 (Kar)] and it was held that said Supreme Court decision relate to taking of credit or utilizing the same wrongly and cannot apply to availment of Cenvat credit in the account books. The entire case law was considered by the Tribunal in the case of CCE, Raipur vs. M/s. Sharda Energy and Minerals Ltd. vide its Final Order No. 55193/2013 dated 10.1.2013, it was held as under:- 8. Learned Advocate appearing for the respondent draws my attention to a latest decision of the Hon'ble High Court of Karnataka in the case of Commissioner of Central Excise and ST Bangalore V/s Bill Forge Pvt. Ltd. 2012 (26) S.T.R. 204 (Kar.). The Supreme Court decision in the case of Ind-Swift Labora....
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....(SC)] as also on Hon'ble Allahabad High Court decision in the case of Hello Minerals Water Pvt. Ltd. vs. Union of India [2004 (174) ELT 422 (All)]. As such, he submits that once the wrongly availed credit stands reversed by them, which amounts as if the same was never availed in which case penalty would not be leviable upon the appellant. 6. Countering the above argument, learned DR appearing for the Revenue submits that appellant had not challenged the fact of wrongly availment of credit and have reversed the same on being pointed out by the audit. This fact itself reflects upon their malafide in which case penal provisions should be invoked against the assessee. 7. After having appreciated the submissions made by both sides, I find that....