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TMI Blog2013 (8) TMI 768X X X X Extracts X X X X X X X X Extracts X X X X ..... , for the period from date of taking of credit to the date of its reversal. The lower appellate authority, pursuant to the Tribunal's remand order viz., final order No.576/2010 dated 8.3.2010, held that the respondent had no interest liability as per the Hon'ble Punjab and Haryana High Court's decision in the case of Ind-Swift Laboratories Ltd. vs. UOI: 2009 (240) E.L.T. 328 (P & H). It is submitted by the learned Superintendent (AR) that the Hon'ble High Court's judgment was reversed by the Hon'ble Supreme Court in UOI vs. Ind-Swift Laboratories Ltd.: 2011 (265) E.L.T. 3 (S.C.) and therefore the impugned order has to be set aside. 2. Per contra, it is submitted by the learned counsel for the respondent that the aforesaid remand order of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e period of dispute in the present case is prior to 1.4.2012 (date of amendment), the amendment has no impact on the present case and consequently the issue has to be addressed in the light of the Hon'ble Supreme Court's decision in Ind-Swift Laboratories case. 4. After giving careful consideration to the submissions, I am of the view that the question whether the respondent should pay interest on any amount of CENVAT credit wrongly taken during September-December, 2004 and rightly reversed on 31.10.2005 has to be examined in terms of Rule 14 as it stood during the material period. Rule 14 as it stood during September, 2004 - October, 2005 was considered by the Hon'ble Supreme Court in the case of Ind-Swift Laboratories (supra) and it was ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... igh Court. If the aforesaid provision is read as a whole we find no reason to read the word OR in between the expressions taken or utilized wrongly or has been erroneously refunded as the word AND. On the happening of any of the three aforesaid circumstances such credit becomes recoverable along with interest. 18. We do not feel that any other harmonious construction is required to be given to the aforesaid expression/provision which is clear and unambiguous as it exists all by itself. So far as Section 11AB is concerned, the same becomes relevant and applicable for the purpose of making recovery of the amount due and payable. Therefore, the High Court erroneously held that interest cannot be claimed from the date of wrong availment of CEN ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have been endeavouring, sometimes to give restrictive or expansive meaning keeping in view the nature of legislation, maybe beneficial, penal or fiscal etc. Cumulatively it is to subserve the object of the legislation. Old golden rule is of respecting the wisdom of legislature that they are aware of the law and would never have intended for an invalid legislation. This also keeps courts within their track and checks individual zeal of going wayward. Yet in spite of this, if the impugned legislation cannot be saved the courts shall not hesitate to strike it down. Similarly, for upholding any provision, if it could be saved by reading it down, it should be done, unless plain words are so clear to be in defiance of the Constitution. These int ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons. The court must look squarely at the words of the statute and interpret them. It must interpret a taxing statute in the light of what is clearly expressed: it cannot imply anything which is not expressed; it cannot import provisions in the statutes so as to supply any assumed deficiency. 20. Therefore, the attempt of the High Court to read down the provision by way of substituting the word OR by an AND so as to give relief to the assessee is found to be erroneous. In that regard the submission of the counsel for the appellant is well-founded that once the said credit is taken the beneficiary is at liberty to utilize the same, immediately thereafter, subject to the Credit rules. 4.1 In the above view of the matter, the apex court set a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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