https://www.taxtmi.com/caselaws?id=77875 The Tribunal ruled in favor of the appellant, holding that they were not liable to pay interest on the service tax credit taken but not utilized. The decision was based on interpretations of Rule 14 of Cenvat Credit Rules and case law, which indicated that where credit was not utilized, no interest was payable. Additionally, the Tribunal found no grounds for imposing a penalty on the appellant for the incorrect credit taken, as the error was rectified voluntarily and deemed unintentional. The Revenue's appeal was rejected, and the Tribunal disposed of the cross objections filed by the respondents. en-us Wed, 23 Dec 2009 00:00:00 +0530 Mon, 18 Oct 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77875 The Tribunal ruled in favor of the appellant, holding that they were not liable to pay interest on the service tax credit taken but not utilized. The decision was based on interpretations of Rule 14 of Cenvat Credit Rules and case law, which indicated that where credit was not utilized, no interest was payable. Additionally, the Tribunal found no grounds for imposing a penalty on the appellant for the incorrect credit taken, as the error was rectified voluntarily and deemed unintentional. The Revenue's appeal was rejected, and the Tribunal disposed of the cross objections filed by the respondents. Case-Laws Central Excise Wed, 23 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77875