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2014 (1) TMI 624 - AT - Central ExciseInterpretation of Rule 14 of the CENVAT Credit Rules 2004 – Waiver of Pre-deposit – Held that:- The appellant has no valid grounds to resist the demand of interest - Word or appearing between the expressions taken and utilized in the text of Rule 14 could not be read as and - for levy of interest on an amount of CENVAT credit wrongly taken and subsequently reversed, non-utilization of such credit is immaterial - Whether or not utilized, CENVAT credit in question would carry interest under Rule 14 from the date of taking to the date of reversal – Following UOI and Ors. Versus Ind-Swift Laboratories Ltd. [ 2011 (2) TMI 6 - Supreme Court] - The appellant is directed to pre-deposit the entire amount of interest as pre-deposit – Stay not granted.
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