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2019 (9) TMI 886 - AT - Central ExciseInterest on unutilized reversed credit entry - HELD THAT:- The erstwhile Rule 14 of the Cenvat Credit Rules read as “taken or utilised”, which had been amended and substituted by the words “taken and utilised” - Such an amendment conveys the intent of the legislature and hence, substantive benefit cannot be denied to the appellant. Further, if credit has been taken but not utilised and is subsequently reversed, it leads to no consequence and results in a revenue neutral situation. The recovery of interest is untenable - appeal allowed - decided in favor of appellant.
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