2018 (3) TMI 451

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....dl. Commr. (A.R) - for Respondent ORDER Per: Ramesh Nair The fact of the case is that the appellant is engaged in the manufacture of Bulk Drugs and Vitamins falling under chapter 29 and animal feed supplement falling under chapter 23 of the schedule to the Central Excise Tariff Act. In budget of 1997 the credit balance lying unutilized in the books of accounts was not held to be available....

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....8 (223) ELT 341 (BOM) and Coral Cosmetics Ltd. - 2008 (225) ELT 412 (TRI). He also submits that the said credit was availed by them in August' 2006 and only a portion was utilized. He submits that interest cannot be demanded on unutilized credit. He relies upon following judgments : (i) Bombay Dyeing & Mfg Co. Ltd. - 2007 (215) ELT 3 (SC) (ii) Bill Forge Pvt. Ltd. - 2012 (26) STR 204 (kar) ....

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..... They did not challenge the lapse of such credit thereby accepting the compliance with the said Rule. It is only after 9 years that they availed credit suo moto which is bad in law. When the lapse of the credit was not challenged by them and they accepted the lapse of credit in that case they could not have taken suo moto credit. Therefore they are not entitled for the credit and we hold so. As f....