https://www.taxtmi.com/caselaws?id=3977 Delayed refund of unutilized Cenvat credit under Rule 5 attracts interest under Section 11BB of the Central Excise Act, 1944 once the refund application remains unattended beyond three months from receipt. The claim was treated as a refund claim carrying the statutory consequence of delay, and the argument that accumulated credit stayed with the assessee and could not earn interest was rejected. Unutilized credit was treated as duty lying with the Revenue until actually utilized, so interest became payable from the day after expiry of the three-month period. en-us Tue, 01 Jan 2008 00:00:00 +0530 Wed, 14 May 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3977 Delayed refund of unutilized Cenvat credit under Rule 5 attracts interest under Section 11BB of the Central Excise Act, 1944 once the refund application remains unattended beyond three months from receipt. The claim was treated as a refund claim carrying the statutory consequence of delay, and the argument that accumulated credit stayed with the assessee and could not earn interest was rejected. Unutilized credit was treated as duty lying with the Revenue until actually utilized, so interest became payable from the day after expiry of the three-month period. Case-Laws Central Excise Tue, 01 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3977