https://www.taxtmi.com/caselaws?id=355588 Interest is recoverable on wrongfully availed CENVAT credit even where utilisation is disputed, because the record showed the credit had in fact been used in excess of the available closing balance and the applicable Rule 14 position treats such credit as exigible to interest. The demand of interest is also subject to limitation; the Tribunal followed the view that recovery cannot extend beyond the legally permissible period and confined the demand and penalty to the five-year period counted from the show cause notice. The order was therefore modified to sustain liability on the wrongful credit while restricting monetary consequences to the permissible limitation period. en-us Fri, 29 Dec 2017 00:00:00 +0530 Fri, 16 Feb 2018 07:09:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355588 Interest is recoverable on wrongfully availed CENVAT credit even where utilisation is disputed, because the record showed the credit had in fact been used in excess of the available closing balance and the applicable Rule 14 position treats such credit as exigible to interest. The demand of interest is also subject to limitation; the Tribunal followed the view that recovery cannot extend beyond the legally permissible period and confined the demand and penalty to the five-year period counted from the show cause notice. The order was therefore modified to sustain liability on the wrongful credit while restricting monetary consequences to the permissible limitation period. Case-Laws Central Excise Fri, 29 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355588