https://www.taxtmi.com/caselaws?id=212914 The Appellate Tribunal CESTAT, Chennai upheld the levy of interest on wrongly claimed credit by manufacturers of 'SG Iron Rough Castings'. The Tribunal relied on Rule 15 of the Cenvat Credit Rules, 2004, and precedents to affirm the statutory requirement of paying interest when CENVAT credit is erroneously availed. Citing legal provisions and case law, the Tribunal rejected the appeal challenging the interest imposition, emphasizing the mandatory nature of interest payment in such cases. The decision aligned with established principles, dismissing the challenge against the interest levy. en-us Thu, 16 Jun 2011 00:00:00 +0530 Sat, 21 Apr 2012 17:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212914 The Appellate Tribunal CESTAT, Chennai upheld the levy of interest on wrongly claimed credit by manufacturers of 'SG Iron Rough Castings'. The Tribunal relied on Rule 15 of the Cenvat Credit Rules, 2004, and precedents to affirm the statutory requirement of paying interest when CENVAT credit is erroneously availed. Citing legal provisions and case law, the Tribunal rejected the appeal challenging the interest imposition, emphasizing the mandatory nature of interest payment in such cases. The decision aligned with established principles, dismissing the challenge against the interest levy. Case-Laws Central Excise Thu, 16 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212914