https://www.taxtmi.com/caselaws?id=34460 Interest was payable on wrongly availed Modvat/Cenvat credit even though the assessee reversed the credit before issuance of the show cause notice. Rule 57AH treated wrongly taken or utilised credit as recoverable along with interest, and the recovery machinery under Sections 11A, 11AA and 11AB applied accordingly. Reversal before notice did not extinguish the statutory interest liability, although the provision separately distinguishes cases involving fraud, wilful misstatement, collusion, suppression or intent to evade duty for penalty consequences. en-us Fri, 14 Dec 2007 00:00:00 +0530 Tue, 01 Sep 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34460 Interest was payable on wrongly availed Modvat/Cenvat credit even though the assessee reversed the credit before issuance of the show cause notice. Rule 57AH treated wrongly taken or utilised credit as recoverable along with interest, and the recovery machinery under Sections 11A, 11AA and 11AB applied accordingly. Reversal before notice did not extinguish the statutory interest liability, although the provision separately distinguishes cases involving fraud, wilful misstatement, collusion, suppression or intent to evade duty for penalty consequences. Case-Laws Central Excise Fri, 14 Dec 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34460