https://www.taxtmi.com/caselaws?id=314453 The CESTAT Bangalore ruled in favor of appellants who had reversed excess credit under Rule 6 of CCR 2002/2004, which was amended retrospectively through Finance Act 2010. The tribunal held that appellants were entitled to refund of excess credit reversed by them, as the credit was not utilized and remained merely book entries. Following Supreme Court precedent in Ballarpur Industries, the tribunal found that unutilized credit cannot be treated as duty paid under Section 11B of CEA 1944. Additionally, no interest was payable under Rule 14 of CCR since the credit was not utilized. Appeal was allowed. en-us Thu, 18 Jul 2019 00:00:00 +0530 Wed, 12 Jun 2024 08:18:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=314453 The CESTAT Bangalore ruled in favor of appellants who had reversed excess credit under Rule 6 of CCR 2002/2004, which was amended retrospectively through Finance Act 2010. The tribunal held that appellants were entitled to refund of excess credit reversed by them, as the credit was not utilized and remained merely book entries. Following Supreme Court precedent in Ballarpur Industries, the tribunal found that unutilized credit cannot be treated as duty paid under Section 11B of CEA 1944. Additionally, no interest was payable under Rule 14 of CCR since the credit was not utilized. Appeal was allowed. Case-Laws Central Excise Thu, 18 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=314453