https://www.taxtmi.com/caselaws?id=251813 Interest is recoverable on wrongly taken Cenvat credit under Rule 14 of the Cenvat Credit Rules, 2004 even where the credit has not been utilised, because the statutory language is disjunctive and covers credit taken or utilised wrongly. The rule was read with Rule 3, which permits taking and utilisation of credit separately, so no one-to-one correlation is required between availment and use. The earlier contrary view was not followed in light of the binding Supreme Court interpretation. Interest therefore runs from the date the credit is wrongly taken until reversal. en-us Wed, 01 Jan 2014 00:00:00 +0530 Mon, 29 Sep 2014 18:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251813 Interest is recoverable on wrongly taken Cenvat credit under Rule 14 of the Cenvat Credit Rules, 2004 even where the credit has not been utilised, because the statutory language is disjunctive and covers credit taken or utilised wrongly. The rule was read with Rule 3, which permits taking and utilisation of credit separately, so no one-to-one correlation is required between availment and use. The earlier contrary view was not followed in light of the binding Supreme Court interpretation. Interest therefore runs from the date the credit is wrongly taken until reversal. Case-Laws Central Excise Wed, 01 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251813