Citation of case law

[KASTURI SETHI]

Dear all Experts,

I want citation of a case law. There is CESTAT judgement wherein it has been held that, "Non-imposition of penalty is no revenue loss." This pertains to the year 2012 or 2013. I do not recollect party's name or which CESTAT. I have read it on Taxindiaonline. This judgement may pertain to Central Excise or Service Tax.

Can any expert help me in tracing out this judgement ? Thanks.

AI Summary

Non-imposition of penalty affirmed where cenvat credit use was recorded, leaving only interest payable for the default period.
M/s F S Engineers v. CCE (CESTAT Ahmedabad, 2013) held that utilisation of cenvat credit recorded in statutory books does not constitute non payment of duty; revenue loss is limited to interest for the period between credit utilisation and cash payment, and penalty under Rule 25 is not attracted, a formulation summarized in the forum as "Non-imposition of penalty is no revenue loss."