2010 (3) TMI 1072

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....voices issued by M/s. IOCL, Guntakal, First Stage dealer registered under Rule 11 of Central Excise Rules, 2002. During the verification of the records of M/s. IOCL, Guntakal the department found that they had wrongly entered the duty payment particulars of the original manufacturer, M/s. Chennai Petroleum Corporation, Manali and passed on excess credit to various customers including the appellants. A show cause notice dated 05.10.2005 was issued to M/s. IOCL, Guntakal and it's customers including the appellants proposing disallowance of Cenvat Credit. The appellants reversed a sum of Rs. 6,64,070/- as demanded in the show cause notice vide Sl. No.4687 dated 31.10.2005 in their RG 23 P-II Register. The impugned order confirmed the deman....

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....it of ineligible credit, they are liable to pay the interest on the said amount, which has been utilized by them or taken by them. She would submit that the extract submitted by the learned Counsel today before the Bench was not produced before the learned Commissioner (Appeals) and the crucial glance of the extract indicate that appellants have utilized the credit which has been taken by them during the disputed period. 5. I have considered the submissions made by both sides and perused the records. The issue involved in this case is regarding the interest payable on the ineligible Cenvat credit taken by the appellants. Since it is not disputed that the credit which has been taken by them was not available to them and having reversed th....