2018 (6) TMI 1067

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.... of penalty and interest on the ground that wrong availed credit was not utilised till the date of reversal. The Ravindra Chimanlal Agarwal, Director of the appellant company file the appeal for waiver of penalty imposed upon him. 2. Ld. Counsel for the appellant submits that they are not contesting Cenvat credit availed by them and subsequent reversal however they are praying for waiver of penalty and dropping of interest on the ground that they have not utilised the credit, on the same ground personal penalty on the director may also be dropped. 3. On the other hand, Shri Sanjay Hasija, Ld. Superintendent(A.R.) appearing on behalf of the Revenue reiterates the findings of the impugned order. 4. On careful consideration of submiss....

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.... 24-Ju1-12 16350 24 392400 47088 942 471 22046 462947 370 24-Ju1-12 11760 24 282240 33869 677 339 15856 332981 372 25-Ju1-12 9570 24 229680 27562 551 276 12904 270973 376 25-Ju1-12 11995 24 287880 34546 691 345 16174 339636 379 27-Ju1-12 10650 24 255600 30672 613 307 14360 301552 381 28-Ju1-12 15640 24 375360 45043 901 450 21088 442842 398 8-Aug 12 9490 24/10 228709 27445 549 274 12848 269825 399 8-Aug 12 15115 24/10 364271 43713 874 437 C)464 429760 400 8-....

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....the goods therefore no case was made out for waiver of penalty. As regard the demand of interest, I find that Rule 14 prevailing at the relevant time is reproduced below:- Recovery of CENVAT credit wrongly taken or erroneously refunded:- "Rule 14. Where the CENVAT credit has been taken and utilized wrongly or has been erroneously refunded, the same along with interest shall be recovered from the manufacturer or the provider of the output service and the provisions of Sec.11A and 11AB of the Central Excise Act or Section 73 and 75 of the Finance Act, shall apply mutatis mutandis for effecting such recoveries". From the above rule prevailing at the relevant time interest was chargeable only when wrong credit was taken and utilised. I....