https://www.taxtmi.com/caselaws?id=34688 The court held that interest is payable on wrongly availed CENVAT credit from the date of wrong availment and not from the date of utilization. It clarified that interest under Section 11AB of the Central Excise Act is compensatory and arises when excise duty has not been levied or paid. The court also ruled that once the bank gives a receipt stamp on TR-6 challans, the amount is considered credited to the Central Government's account. Therefore, the respondents were directed to re-calculate the interest amount in accordance with the judgment, and the writ petition was disposed of without costs. en-us Fri, 03 Jul 2009 00:00:00 +0530 Fri, 09 Oct 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34688 The court held that interest is payable on wrongly availed CENVAT credit from the date of wrong availment and not from the date of utilization. It clarified that interest under Section 11AB of the Central Excise Act is compensatory and arises when excise duty has not been levied or paid. The court also ruled that once the bank gives a receipt stamp on TR-6 challans, the amount is considered credited to the Central Government's account. Therefore, the respondents were directed to re-calculate the interest amount in accordance with the judgment, and the writ petition was disposed of without costs. Case-Laws Central Excise Fri, 03 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34688