2017 (1) TMI 600

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..... ch requires the appellant-assessee to reverse the Cenvat credit against the receipt of refund order. There is also no provision which mandates for demand of interest for late deposit of the refund cheque given to an assessee. In the absence of any such provision, demand of interest from the appellant for the period from the date of issue of cheque till the date of deposit for non-reversal of Cenva .....

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..... ng in their Cenvat account in July, 2009. This Cenvat credit remained unutilized as appellant has exported the goods manufactured out of input/input services on which Cenvat credit was availed. The said refund was sanctioned by orders dated 24-5-2010 and 27-7-2010 and the cheques were issued for the amounts of ₹ 64,89,944/- and ₹ 19,57,736/-. Appellant deposited the cheques in the bank .....

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..... demand of interest from the appellant for the period from the date of issue of cheque till the date of deposit for non-reversal of Cenvat credit seems inconsistent with law. On a specific query from the Bench as to whether during the interregnum period the assessee has utilized the Cenvat credit for which the learned Consultant submits that the said Cenvat credit, for which refund claim was availe .....

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