https://www.taxtmi.com/caselaws?id=354797 Rule 14 of the Cenvat Credit Rules, 2004 was applied to hold that interest is payable on wrongly taken CENVAT credit even if it is reversed before utilisation. The interpretation followed the Supreme Court's view in Ind Swift Laboratories that interest liability arises on wrong availment itself, and that the words "taken, utilised wrongly, or erroneously refunded" are not to be read conjunctively. The contrary reliance on Bill Forge was rejected in light of the later binding interpretation and the Bombay High Court's distinction of that decision. The demand for interest was therefore upheld. en-us Tue, 16 Jan 2018 00:00:00 +0530 Sat, 24 Feb 2018 10:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354797 Rule 14 of the Cenvat Credit Rules, 2004 was applied to hold that interest is payable on wrongly taken CENVAT credit even if it is reversed before utilisation. The interpretation followed the Supreme Court's view in Ind Swift Laboratories that interest liability arises on wrong availment itself, and that the words "taken, utilised wrongly, or erroneously refunded" are not to be read conjunctively. The contrary reliance on Bill Forge was rejected in light of the later binding interpretation and the Bombay High Court's distinction of that decision. The demand for interest was therefore upheld. Case-Laws Central Excise Tue, 16 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354797