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2015 (12) TMI 1050 - AT - Central ExciseDemand of interest on the credit wrongly taken and reversed before utilizing the same - whether interest is chargeable on the cenvat credit wrongly taken, though the same is reversed before utilization of the credit - Held that:- it is seen that there are judgements of various High Courts which have taken different views referring to the Hon'ble Apex Court judgement in the case of Indo Swift Laboratories case [2011 (2) TMI 6 - Supreme Court]. I find that the Hon'ble High Court of Madras in Strategic Engineering (P) Ltd. [2014 (11) TMI 89 - MADRAS HIGH COURT] has not only analysed the judgement laid in Ind Swift Laboratories case and M/s.Bill Forge (P) Ltd. case [2011 (4) TMI 969 - KARNATAKA HIGH COURT], but has also gone one step further by considering the subsequent amendment brought forth in Rule 14 of Central Excise Rules, 2004. This Tribunal in the case of Gurmehar Construction Vs. CCE, Raipur [2014 (7) TMI 849 - CESTAT NEW DELHI] followed the judgement in M/s.Bill Forge (P) Ltd. case. In this background of judicial dispositions on the issue, I am inclined to follow the judgement laid by Hon'ble High Court of Karnataka in the case of M/s.Bill Forge (P) Ltd. which has been endorsed by the Hon'ble High Court of Madras in Strategic Engineering (P) Ltd. case. - interest is not chargeable on the credit wrongly taken which was reversed before utilization. - Decided in favour of assessee.
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