https://www.taxtmi.com/caselaws?id=763823 The court concluded that interest under Rule 14 of the Cenvat Credit Rules, 2004, is only chargeable when Cenvat Credit has been both taken and utilized. The appellant argued that the credit was not utilized during the relevant period, maintaining a sufficient balance for reversal. The court set aside the impugned order and remanded the case to the adjudicating authority for verification of the appellant's claim. If verified, the appellant would not be liable for interest on the late reversal of Cenvat Credit related to goods destroyed by fire. en-us Wed, 04 Dec 2024 00:00:00 +0530 Mon, 30 Dec 2024 08:39:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763823 The court concluded that interest under Rule 14 of the Cenvat Credit Rules, 2004, is only chargeable when Cenvat Credit has been both taken and utilized. The appellant argued that the credit was not utilized during the relevant period, maintaining a sufficient balance for reversal. The court set aside the impugned order and remanded the case to the adjudicating authority for verification of the appellant's claim. If verified, the appellant would not be liable for interest on the late reversal of Cenvat Credit related to goods destroyed by fire. Case-Laws Central Excise Wed, 04 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763823