https://www.taxtmi.com/caselaws?id=123768 The Tribunal set aside the demand for interest on delayed reversal of cenvat credit, ruling in favor of M/s. Rajalakshmi Textile Processors Pvt. Ltd. The decision clarified that interest under Section 11AB of the Central Excise Act is applicable only when credit is utilized wrongly, which was not the case. Rule 14 of the Cenvat Credit Rule, 2004, was interpreted to require wrongful utilization for interest recovery, aligning with previous case law. The judgment underscores the importance of proper credit utilization to invoke interest demands, ensuring compliance with statutory provisions. en-us Thu, 10 Jan 2008 00:00:00 +0530 Thu, 20 Sep 2012 13:07:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=123768 The Tribunal set aside the demand for interest on delayed reversal of cenvat credit, ruling in favor of M/s. Rajalakshmi Textile Processors Pvt. Ltd. The decision clarified that interest under Section 11AB of the Central Excise Act is applicable only when credit is utilized wrongly, which was not the case. Rule 14 of the Cenvat Credit Rule, 2004, was interpreted to require wrongful utilization for interest recovery, aligning with previous case law. The judgment underscores the importance of proper credit utilization to invoke interest demands, ensuring compliance with statutory provisions. Case-Laws Central Excise Thu, 10 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=123768