https://www.taxtmi.com/caselaws?id=329061 A defaulting excise assessee could still utilise validly accrued CENVAT credit to discharge duty during the default period. Applying Malladi Drugs & Pharmaceuticals Ltd. and the principle that accrued CENVAT credit is an indefeasible legal right, the Court held that the portion of Rule 8(3A) barring utilisation of credit until outstanding duty and interest were paid was unconstitutional as arbitrary and violative of Article 14. The demand and penalty founded solely on that restriction therefore could not survive, and the Tribunal's order setting them aside was left undisturbed. en-us Mon, 06 Jun 2016 00:00:00 +0530 Tue, 15 Nov 2016 13:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329061 A defaulting excise assessee could still utilise validly accrued CENVAT credit to discharge duty during the default period. Applying Malladi Drugs & Pharmaceuticals Ltd. and the principle that accrued CENVAT credit is an indefeasible legal right, the Court held that the portion of Rule 8(3A) barring utilisation of credit until outstanding duty and interest were paid was unconstitutional as arbitrary and violative of Article 14. The demand and penalty founded solely on that restriction therefore could not survive, and the Tribunal's order setting them aside was left undisturbed. Case-Laws Central Excise Mon, 06 Jun 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329061