Union Of India & Ors vs M/S Ind-Swift Laboratories Ltd

The Supreme Court held that under Section 32E(1) and Section 32F(1) of the Central Excise Act, 1944, the Settlement Commission correctly determined that the respondent was not entitled to claim interest on CENVAT credit from the date it was wrongly availed but only from the date it was utilized. The Court upheld the High Court's decision that the respondent had wrongfully claimed interest on the amount of Rs. 50 lacs, which had already been deposited prior to the claim. The appeal was dismissed, affirming the High Court's ruling.