2014 (3) TMI 744

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..... ince before the decision of the Hon’ble Supreme Court having the view that interest is payable from the date of availment of cenvat credit and even it was not utilized interest is not payable was not available - Following decision of UOI v. Ind-Swift Laboratories Ltd. [2011 (2) TMI 6 - Supreme Court] - Stay granted.
Shri B.S.V. Murthy, J. Shri K. Parameswaran, Advocate, for the Appellant. Ms. .....

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..... , no interest was payable. Only after the limitation period is over, the Department has issued a notice proposing demand of interest and imposing penalty. In view of the prevailing decisions during the relevant time, suppression of facts or misdeclaration could not have been arose for imposition of penalty under Section 11AC when demanding interest. 3. I find that on that ground of limitatio .....

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