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2007 (12) TMI 215 - HC - Central ExciseInterest on irregular cenvat credit – Held that - On a plain reading of the above rule it is clear that since the respondent assessee used the Cenvat credit wrongly he became liable to pay duty along with interest as provided under the said rules. The provisions of Sections 11A, 11AA and 11AB provided for procedure for recovery of the said duty along with interest in case the assessee fails to pay the same. - the Tribunal was not justified in reversing the concurrent findings of the Assessing Officer and the First Appellate Authority in levying interest on the amount of credit which was availed by the respondent-assessee wrongly though the same was paid by the assessee prior to issuance of show cause notice. With the result the substantial question of law formulated in this appeal is answered in favour of the appellant Revenue.
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