https://www.taxtmi.com/caselaws?id=208746 Rule 14 of the Cenvat Credit Rules, 2004 treats wrongly taken or wrongly utilised credit as recoverable with interest, and does not distinguish between mere wrongful availment and wrongful utilisation for interest liability on reversal. The earlier Rule 57-I(5) of the Central Excise Rules, 1944 operated in a different statutory context tied to fraud, suppression, collusion or intent to evade duty, so precedent under that rule was not applicable. The Tribunal decision relied on was also factually distinguishable, and dismissal of an earlier special leave petition did not confirm that view. Interest was therefore payable on wrongly availed Cenvat credit even though it remained unutilised until reversal. en-us Mon, 09 Aug 2010 00:00:00 +0530 Sat, 16 May 2015 17:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=208746 Rule 14 of the Cenvat Credit Rules, 2004 treats wrongly taken or wrongly utilised credit as recoverable with interest, and does not distinguish between mere wrongful availment and wrongful utilisation for interest liability on reversal. The earlier Rule 57-I(5) of the Central Excise Rules, 1944 operated in a different statutory context tied to fraud, suppression, collusion or intent to evade duty, so precedent under that rule was not applicable. The Tribunal decision relied on was also factually distinguishable, and dismissal of an earlier special leave petition did not confirm that view. Interest was therefore payable on wrongly availed Cenvat credit even though it remained unutilised until reversal. Case-Laws Central Excise Mon, 09 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=208746