https://www.taxtmi.com/caselaws?id=75231 Irregular Cenvat credit detected through internal audit and subsequently reversed was treated as warranting no interference with a nominal penalty, as the assessees had taken corrective action and separate registration of units within the same company did not compel a harsher view. Interest was held not payable on the wrong credit because the Cenvat credit account maintained sufficient balance throughout the relevant period, even though the credit was initially availed irregularly. The Revenue's challenge therefore failed on both penalty and interest, and the relief granted to the assessees was sustained. en-us Fri, 29 May 2009 00:00:00 +0530 Wed, 31 Mar 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=75231 Irregular Cenvat credit detected through internal audit and subsequently reversed was treated as warranting no interference with a nominal penalty, as the assessees had taken corrective action and separate registration of units within the same company did not compel a harsher view. Interest was held not payable on the wrong credit because the Cenvat credit account maintained sufficient balance throughout the relevant period, even though the credit was initially availed irregularly. The Revenue's challenge therefore failed on both penalty and interest, and the relief granted to the assessees was sustained. Case-Laws Central Excise Fri, 29 May 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=75231