2018 (8) TMI 1271

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...., AC (AR) for the Respondent. [Order]. - This appeal has been filed by Syngenta India Ltd. against demand of interest on credit wrongly availed and later reversed by them, they have also appealed against imposition of penalty. 2. Ld. Counsel for the appellants argued that they had reversed the credit without utilising the same and therefore no interest could be demanded. The appellants submi....

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....ned. 3. Ld. Counsel further argued that there was no intention to avail wrong credit and therefore no penalty can be imposed on them. He further argued that no penalty under Rule 15(1) of Cenvat Credit Rules, 2004 can be imposed as the Commissioner has failed to give any reason for imposition of such penalty. He further argued that penalty can only be imposed if the department establish to prov....