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of <h1>Appellate Tribunal Allows Appeal Based on Sufficient Cenvat Credit Balance</h1> The Appellate Tribunal CESTAT CHENNAI allowed the appeal, finding sufficient Cenvat credit balance in the appellant's RG-23A Part-II register based on a ... Interest - penalty - Held that: - there were sufficient balance of Cenvat credit in the statutory record maintained by the appellant, which is RG-23A Part-II register - In existence of sufficient balance, there shall not be levy of interest and so also there shall not be levy of penalty on the appellant - appeal allowed. The Appellate Tribunal CESTAT CHENNAI allowed the appeal as there was sufficient Cenvat credit balance in the appellant's RG-23A Part-II register, based on a verification report from Revenue. Consequently, no interest or penalty was levied on the appellant.
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