2008 (1) TMI 774

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....h Birdi, SDR, for the Respondent. [Order]. -  In this application filed by M/s. Rajalakshmi Textile Processors Pvt. Ltd., Erode (RTPPL), the appellants have sought waiver of pre-deposit and stay of recovery of an amount of Rs. 23,727/- being the interest demanded from them. After hearing the parties on the stay application, the requirement of pre-deposit is dispensed with and the appeal....

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....r Rule 14 of the Cenvat Credit Rule, 2004 (CCR) read with Section 11AB of the Act. In the impugned order, the Commissioner (Appeals) has affirmed the order of the original authority. 3. Reiterating the grounds of the appeal, the Ld. Counsel for the appellants submits that interest has been demanded invoking Rule 14 of CCR which provides for delay in recovery of cenvat credit taken or utili....

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....n stock on the date of the appellants therein opting for the exemption under Notification No. 30/04, the Tribunal had decided that the credit had not been taken or utilized wrongly and therefore, no interest could be demanded. In the said decision, as in the instant case, it was a fact that the appellants had reversed the balance credit before the issue of Show Cause Notice. 4. The Ld. SDR....

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....n on such goods. In the present case, there was a delay of 29 days in reversing the credit but the assessee had not utilized the said amount and the balance continued to be available in their RG-23 account through the duration of the delay. Rule 14 of the CCR reads as follows : "Recovery of CENVAT credit wrongly taken or erroneously refunded. - Where the CENVAT credit has been taken or utilized....