2013 (11) TMI 1214

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.... This appeal has been filed by the appellant M/s Multibase India Limited, Kadaiya, Daman. The issue involved is that appellant has taken 100% CENVAT Credit on certain inputs received from a 100% EOU whereas the credit was required to be taken as per the formula prescribed under Rule 3(7)(a) of the CENVAT Credit Rules, 2004. When the discrepancy was brought to the knowledge of the appellant by a....

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....erest. i) CCE Vadodara-II Vs. Dynaflex Pvt.Ltd. [2011 (266) ELT 41 (Guj.)] ii) CCE Vs Sweet Industries [2011 (264) ELT 349 (Guj.)] iii) CCE Vadodara Vs. M.J. Pharmaceuticals Industries Ltd. [2009 (240) ELT 712 (Tri-Ahmd)] iv) CCE Vadodara-II Vs. M.J. Pharmaceuticals Industries Ltd. [2010 (258) ELT 38 (Guj.)] v) CCE Belgaum Vs. Veetech Valves Pvt.Ltd. [2010 (261) ELT 204 (Tri-Bang)] ....

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....d subsequently reversed, there is no interest liability in view of the settled law by High Court's judgments relied upon by the appellant, especially Para 12 of the Order dt.01.12.2010 passed by Gujarat High Court in the case of Commissioner of Central Excise & Customs Vs Sweet Industries [2011 (264) ELT 349 (Guj.)], where the following was held:         ....

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....o liability to pay interest. The Tribunal has held that in view of the fact that the credit was not at all utilized, in the light of the earlier decisions of the Tribunal; the assessee was not liable to pay interest if the credit had not been utilized. The aforesaid view of the Tribunal is in line with the view taken by the apex court in the case of Commissioner of C.Ex., Mumbai-I v. Bombay Dyeing....