2011 (1) TMI 837

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... re sought to be reversed by the Department. He specifically takes us through the findings of Adjudicating Authority which has been upheld by the ld. Commissioner(Appeals). He would also brings to our notice the judgment of the Hon'ble High Court of Ind-Swift Laboratories Ltd. Vs. UOI [2009 -TMI - 34688 - PUNJAB & HARYANA HIGH COURT] - Decided in favour of assessee. - E/60/10 - - - Dated:- 17-1-20 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... t the demand of interest has arisen on the ground that the appellant has availed Cenvat Credit on the inputs which were used in production of exempted as well as dutiable products. Ld. Counsel brings to our notice that the appellant has reversed the entire amount attributable to the credit taken which were utilized in exempted products. He also brings to our notice that the fact that the appellant .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... P H in the case of Indi-Swift Laboratories Ltd. (supra) examined the provisions of Rules which was relied upon by the ld. DR in the judgment in para -11, which we respectfully reproduce below:- "11.?Reliance of respondents on Rule 14 of the Credit Rules that interest under Section 11AB of the Act is payable even if CENVAT credit has been taken. In our view, said clause has to be read down to .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X