2018 (2) TMI 903

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ORDER This appeal has been filed by M/s. Phoenix Engineering against disallowance of credit wrongly availed, confirmation of demand of interest and imposition of penalty. 2. Learned counsel for the appellant argued that certain credit which was wrongly availed by them was reversed. In some cases, the credit was reversed suo motu and in other cases, the credit was reversed after the same was ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....n the month of June, 2007, inadmissible Cenvat Credit to the tune of Rs. 8,49,783/- was taken, which was suo-moto reversed by them in September 2007 as soon as the mistake was discovered. NOTE: Closing balance for the month of June, July & August, 2007 was Rs. 44,43,963/-, Rs. 46,98,982/- and Rs. 34,93,332/-. d) An amount of Rs. 91,612/- towards Cenvat Credit wrongly taken in the month of Ma....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the period when the credit was availed and reversed. 3. Learned AR for the Revenue relied on the decision of Hon'ble High Court of Bombay in the case of CCE, Pune-I Vs. GL&V India Pvt. Ltd. - 2015 (321) ELT 611 (Bom.). He argued that the decision of Hon'ble High Court of Bombay is binding on the Tribunal in terms of the decision of Larger Bench of the Tribunal in the case of J.K. Tyre & Indust....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....iew of the subsequent judgment of the Apex Court in the case of Union of India v. Ind-Swift Laboratories Ltd. reported in 2011 (265) E.L.T. 3 (S.C.). 18. The question on which we admitted the appeal is required to be answered in view of the judgment of the Apex Court in the case of Union of India v. Ind-Swift Laboratories Ltd. reported in 2011 (265) E.L.T. 3 (S.C.) that the learned Tribunal was....