TaxTMI 
TaxTMI 
2017 (12) TMI 1279
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....DER The appellant have availed Cenvat credit on input, capital goods and input service. On being pointed out, appellant reversed the entire Cenvat credit but did not pay applicable interest, therefore various show cause notice was issued wherein it was proposed to disallow the cenvat credit and to impose penalty and demand interest. The show cause notice was culminated into adjudication order whe....
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....aken was lying unutilized and therefore no penalty and interest are chargeable in the present case. He placed reliance on the following judgments: (a) Commissioner Of C. Ex. & S.T. LTU, Bangalore Vs. Bill Forge Pvt Ltd[2012(279) ELT 209(Kar)] (b) Commissioner of C. Ex. & Cus Vododara-ll Vs. Dynaflex Pvt Ltd[2012(25) S.T.R. 277(Guj)] 3. On the other hand, Shri. V.K. Agarwal, Ld. Addl. Commission....
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....h)] 4. I have carefully considered the submissions made by both sides and perused the records. 5. I find that it is not a case of wrong availment of credit, this is due to amalgamation of old company to present company, records were not traceable. The appellant have admittedly reversed the credit, moreover credit so taken was not utilized therefore in fact of the present case, I do not see any r....
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....nt shall prevail. In the present case as per Hon'ble Bombay High court judgment in case of GL V India Pvt Ltd(Supra) which has considered the Hon'ble Panjab & Haryana High Court in case of Ind-swift(Supra) held that interest is chargeable even when assessee has not utilized the credit. Therefore following the said Hon'ble Bombay High Court judgment, I am of the view that interest is chargeable....