Interest on Reversed CENVAT Credit Only Applies When Utilized; Demand for Interest Set Aside.

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....Demand of interest on reversal of Canvet Credit - only when a debit occurs to such CENVAT account by way of utilization, would the exchequer be adversely affected, since otherwise the assessee would have to pay from account current or cash instead of adjusting from CENVAT account. - Demand of interest set aside - AT....