2018 (2) TMI 138

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....dit on inputs like PCB assembly cards, cable assembly and chassis etc. It was noticed that they availed input credit in MS Excel Worksheet; the value of each input invoice document was entered manually and the eligible credit was worked out from the assessable value by a formula incorporated in the column of Excel sheet. The procedures involved in the availment of credit have been ascertained and input details were obtained in softcopy. On detail verification, it revealed that the appellants have availed excess input credit. Show cause notice was issued proposing to recover the wrongly availed credit along with interest and also for imposing penalty. After due process of law, the original authority confirmed the demand and appropriated the ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s in the impugned order. 4. Heard both sides. 5. The appellant is confining the contest to the demand of interest and the penalties imposed. It is not disputed that the appellant has reversed the credit before utilization. The jurisdictional High Court in the decision relied by the ld. counsel has analyzed the very same issue and held that the demand of interest and the penalties cannot sustain. The relevant portion of the judgment is as follows:- "8. The entire argument put forth on the side of the appellant/Department is based upon the decision reported in 2012 (25) S.T.R. 184 (S.C.) = 2011 (265) E.L.T. 3 (S.C.) (Union of India v. Ind-Swift Laboratories Limited), wherein the Apex Court has given a finding to the effect that....