2018 (8) TMI 1335

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....) for Appellant Shri Prasad J. Tendulkar, Advocate for Respondent ORDER Per: S K Mohanty Heard both sides and perused the case records. 2. Revenue has assailed the impugned order on the ground that setting aside the penalty imposed under Rule 15(2) of the CENVAT Credit Rules, 2004 read with Section 11AC of the Central Excise Act, 1944 by the Commissioner (Appeals) is not proper and ....

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....on the judgment of Hon'ble Punjab & Haryana High Court in the case of CCE Ludhiana Vs. Sangrur Agro Ltd. - 2010 (254) ELT 25 (P&H). It has been ruled by the Hon'ble High Court that Section 11AC of the Central Excise Act, 1944 will not have any application, in case of reversal of excess availed CENVAT credit, in terms of Rule 6(3)(b) of the CENVAT Credit Rules. Since operation of the said j....

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....provisions of Rule 14 of the CENVAT Credit Rules, 2004, the respondent-assessee is liable to pay interest, even when it had sufficient balance in the books of accounts. Since the judgment in the case of GL & V India Pvt. Ltd. (supra) has been delivered by the Hon'ble Bombay High Court, having territorial jurisdiction over this Bench of the Tribunal, respectfully following such judgment, I conc....