https://www.taxtmi.com/caselaws?id=375605 Wrongly availed Cenvat credit reversed before utilisation does not attract interest under Rule 14 of the Cenvat Credit Rules, 2004, because reversal before use is treated as if the credit was not taken. The reversal made before departmental audit was therefore held insufficient to create interest liability. The notice was also held time-barred, as the extended limitation period under Section 73 of the Central Excise Act, 1944 required suppression or intent to evade, which was not shown where the credit had been voluntarily reversed before utilisation. The demand was set aside and the assessee succeeded. en-us Thu, 07 Feb 2019 00:00:00 +0530 Fri, 22 Feb 2019 06:08:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375605 Wrongly availed Cenvat credit reversed before utilisation does not attract interest under Rule 14 of the Cenvat Credit Rules, 2004, because reversal before use is treated as if the credit was not taken. The reversal made before departmental audit was therefore held insufficient to create interest liability. The notice was also held time-barred, as the extended limitation period under Section 73 of the Central Excise Act, 1944 required suppression or intent to evade, which was not shown where the credit had been voluntarily reversed before utilisation. The demand was set aside and the assessee succeeded. Case-Laws Central Excise Thu, 07 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375605