2012 (9) TMI 141

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..... cannot be claimed from the date of wrong availment of CENVAT credit - interest shall be payable from the date CENVAT credit is wrongly utilized - E/60/2010C - 83/2011 - Dated:- 7-2-2011 - S/Shri M.V. Ravindran, P. Karthikeyan, JJ. REPRESENTED BY : Shri R. Dakshinamurthy, Advocate, for the Appellant. Shri K.S. Chandrasekhar, JDR, for the Respondent. [Order per : M.V. Ravindran, Mem .....

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..... versed the entire amount attributable to the credit taken which were utilized in exemption products. He also brings to out notice that the fact that the appellant has not utilized the amount which were sought to be reversed by the Department. He specifically takes up through the findings of Adjudicating Authority which has been upheld by the ld. Commissioner (Appeals). He would also brings to out .....

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..... the Credit Rules that interest under Section 11AB of the Act is payable even if CENVAT credit has been taken. In our vie, said clause has to be read down to mean that where CENVAT credit has been taken and utilized wrongly, interest should be payable on the Cenvat credit taken and utilized wrongly. Interest cannot be claimed simply for the reason that the CENVAT credit has been wrongly taken as su .....

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