2015 (10) TMI 1138

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....lant : Shri T R Rastogi, Adv. For the Respondent : Shri D Singh, AR ORDER Per: Ashok Jindal: The appellants is in appeal against the impugned order denying the Cenvat credit on the services namely insurance, audit and transportation etc. on the premise that the appellant being the job worker and doing the work under exemption Notification No. 214/86 and cleared the goods without paymen....

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....ready reversed the Cenvat credit, therefore, they have not contested the availment of Cenvat credit before the lower authorities but he prayed that out of Rs. 1,58,775/- the appellant has utilized only Rs. 48,386/- and if any interest is payable by them, that is to be payable only on Rs. 48,386/- during the intervening period as per the decision of Hon ble Madras High Court in the case of CCE Madu....

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....submits that the appellant was clearing the goods on non-duty paid challan and knowing that they are not entitled to take Cenvat credit and this fact was only revealed to the Revenue during the course of audit. Therefore, it is a case of suppression of facts by the appellant. In this case, penalty is imposable on the appellant. 5. Heard the parties. Considered the submissions. 6. It is admit....

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....by the assessee wrongly but same has been reversed before utilization of the same, no interest is payable by the assessee. In these circumstances, relying on the decision of Strategic Engineering P Ltd. (supra), I hold that appellant is required to pay interest only on Rs. 48,386/- during the intervening period. Further, I find that in the impugned order, the observation has been made by the learn....