TaxTMI 
TaxTMI 
2018 (9) TMI 1365
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....Rajeev Ranjan (Addl. Commr.) AR for Respondent ORDER Per: Archana Wadhwa After hearing both the sides duly represented by Shri Rajesh Chhibber advocate and Shri Rajeev Ranjan Additional Commissioner, we find that the appellant, who is engaged in the manufacture of Tor Steel, was availing the benefit of Cenvat credit of Service Tax paid on various input services. During the course of audit, it....
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....with payment of interest. 3. In the above scenario, proceedings were initiated against them for confirmation of demand by denying the Cenvat credit as also for imposition of penalty. The notice issued to the appellant resulted in passing of the present impugned order by the Commissioner vide which the reversal entries already made by the appellant were confirmed along with confirmation of interes....
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....led, was not utilized by them and remained only as a paper entry in their records. The said plea of the appellant has not been rebutted by the Adjudicating Authority and in such a scenario, no mala fide can be attributed to them so as to impose penalty. Similarly, in respect of the credit of Rs. 1.28 lakhs approximately, he submits that they availed the same under bona fide belief that even thoug....
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.... during intervening period the credit availed remained as a paper entry only and was not utilized by the assessee. Though in such a case even the interest was not required to be paid in terms of the Hon'ble Karnataka High Court decision in the case of Bill Forge Pvt. Ltd. vs. CCE & ST, LTU, Bangalore - 2012 (279) E.L.T. 209 (Kar.), the appellant reversed the entire credit along with interest and i....