Interest recovery on wrongly availed CENVAT credit affirmed; interest attaches from the date of wrongful availment under any qualifying circumstance. Liability to pay interest arises when CENVAT credit has been wrongly availed, even if not utilized, because the relevant provision is to be read disjunctively: on the happening of any one of the circumstances-credit wrongly taken, wrongly utilized, or erroneously refunded-the credit becomes recoverable along with interest; administrative action is directed to safeguard revenue and inform trade and field formations.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest recovery on wrongly availed CENVAT credit affirmed; interest attaches from the date of wrongful availment under any qualifying circumstance.
Liability to pay interest arises when CENVAT credit has been wrongly availed, even if not utilized, because the relevant provision is to be read disjunctively: on the happening of any one of the circumstances-credit wrongly taken, wrongly utilized, or erroneously refunded-the credit becomes recoverable along with interest; administrative action is directed to safeguard revenue and inform trade and field formations.
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