https://www.taxtmi.com/caselaws?id=77487 The High Court upheld the Tribunal's decision regarding the recoverability of interest and imposability of penalty under the CENVAT Credit Rules, 2004. The Court ruled that when inadmissible credit is reversed before utilization, there is no basis for imposing interest or penalty. The manufacturer's reversal of wrongly taken CENVAT Credit and non-utilization thereof for duty payment precluded the demand for interest and penalty. The appeal was dismissed as the Court found no legal error in the Tribunal's decision, emphasizing that no interest or penalty should be imposed in such circumstances. en-us Mon, 29 Mar 2010 00:00:00 +0530 Mon, 20 Sep 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77487 The High Court upheld the Tribunal's decision regarding the recoverability of interest and imposability of penalty under the CENVAT Credit Rules, 2004. The Court ruled that when inadmissible credit is reversed before utilization, there is no basis for imposing interest or penalty. The manufacturer's reversal of wrongly taken CENVAT Credit and non-utilization thereof for duty payment precluded the demand for interest and penalty. The appeal was dismissed as the Court found no legal error in the Tribunal's decision, emphasizing that no interest or penalty should be imposed in such circumstances. Case-Laws Central Excise Mon, 29 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77487