https://www.taxtmi.com/caselaws?id=125279 The Tribunal rejected the Revenue's appeal, ruling that interest is not payable on wrongly taken Cenvat credit if it remains unutilized. The Tribunal emphasized that interest liability arises only upon actual utilization of the credit, not just upon its availing. Precedents cited supported this view, leading to the conclusion that the appellants' maintenance of a credit balance without utilization during the disputed period exempted them from interest payment. The decision clarifies the distinction between taking and using credit, setting a precedent based on established legal principles and prior judgments. en-us Thu, 05 Mar 2009 00:00:00 +0530 Sat, 29 Jul 2017 10:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125279 The Tribunal rejected the Revenue's appeal, ruling that interest is not payable on wrongly taken Cenvat credit if it remains unutilized. The Tribunal emphasized that interest liability arises only upon actual utilization of the credit, not just upon its availing. Precedents cited supported this view, leading to the conclusion that the appellants' maintenance of a credit balance without utilization during the disputed period exempted them from interest payment. The decision clarifies the distinction between taking and using credit, setting a precedent based on established legal principles and prior judgments. Case-Laws Central Excise Thu, 05 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125279