2015 (9) TMI 1205

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Honble Apex Court in Ind-Swift Laboratories Ltd. (2011 (2) TMI 6 - Supreme Court) and thereafter arrived at the decision that if the cenvat credit lying in the cenvat credit account which has been taken wrongly but reversed before utilization, in that situation, interest is not payable, the said view of the Hon’ble High Court of Karnataka was followed by this Tribunal in Gurmehar Construction vs .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... For The Respondent : Shri Pramod Kumar, Jt.CDR Per Ashok Jindal : The short issue involved in the matter is whether the appellant is required to pay interest for the intervening period where they have reversed the cenvat credit taken wrongly by them. 2. Heard the parties. 3. Learned AR relied on Ind-Swift Laboratories Ltd. [2011 (265) ELT 3(SC)] and Suzuki Motorcycle (I) Pvt. Ltd. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... contention of the learned Counsel that cenvat credit wrongly taken was lying in the Cenvat credit account unutilized. If the said contention is correct, then the appellant is not required to pay interest on wrongly taken reversed cenvat credit following the decision of Gurmehar Construction vs. CCE, Raipur (supra). The adjudicating authority if desires, may call for the records to verify the fact .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X