https://www.taxtmi.com/caselaws?id=239605 Interest under Rule 14 of the CENVAT Credit Rules, 2004 read with Section 11AB of the Central Excise Act, 1944 is payable from the date wrong credit is taken, because the word "or" in Rule 14 is disjunctive and makes wrongful taking itself sufficient. The Supreme Court ruling in Ind-Swift Laboratories was applied to hold that actual utilisation is not a condition precedent for interest on irregular credit. Bill Forge was treated as inapplicable on its facts because that case involved reversal before the duty liability arose, whereas here the wrong credit remained in the account and was used to meet liabilities. The assessee's contention was rejected. en-us Fri, 26 Jul 2013 00:00:00 +0530 Wed, 09 Sep 2015 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239605 Interest under Rule 14 of the CENVAT Credit Rules, 2004 read with Section 11AB of the Central Excise Act, 1944 is payable from the date wrong credit is taken, because the word "or" in Rule 14 is disjunctive and makes wrongful taking itself sufficient. The Supreme Court ruling in Ind-Swift Laboratories was applied to hold that actual utilisation is not a condition precedent for interest on irregular credit. Bill Forge was treated as inapplicable on its facts because that case involved reversal before the duty liability arose, whereas here the wrong credit remained in the account and was used to meet liabilities. The assessee's contention was rejected. Case-Laws Central Excise Fri, 26 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239605