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2014 (4) TMI 574 - AT - Central ExciseDemand of Interest on cenvat credit wrongly taken but reversed before utilization - Held that:- interest would be payable from the date Cenvat credit is taken or utilized wrongly - assessee had not taken or utilized the Credit but only availed wrong credit in their account books and on pointing out the mistake, immediately reversed the entry. As no benefit of wrong entry in account books was taken, interest is not payable - Decision in the case of Commissioner of Central Excise and S.T., Bangalore v. Bill Forge Pvt. Ltd. - [2011 (4) TMI 969 - KARNATAKA HIGH COURT] and Commissioner of Central Excise, Bangalore v. Pearl Insulation Ltd. [2012 (11) TMI 912 - KARNATAKA HIGH COURT] followed - Inasmuch as issue stands decided, by Karnataka High Court by interpreting Supreme Court decision in Ind-Swift [2011 (2) TMI 6 - Supreme Court] and the facts are not in dispute - Decided against Revenue.
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