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TMI Blog2008 (1) TMI 774X X X X Extracts X X X X X X X X Extracts X X X X ..... pplication 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 itself is taken up for final disposal. 2. RTPPL opted to avail ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f 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 utilized wrongly. In the instant case, the assessee had validly availed the credit. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... otification 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 submits that Rule 14 provides for collection of interest in situations as covered b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 wrongly or has been erroneously refunded, the same along with interest shall be recovered ..... X X X X Extracts X X X X X X X X Extracts X X X X
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