https://www.taxtmi.com/caselaws?id=120681 Excess Cenvat credit on capital goods was taken contrary to the Cenvat Rules, but it was reversed immediately when pointed out, was never utilised, and caused no loss to the Revenue. On those facts, the authorities found no basis to impose penalty or interest, and the appellate record disclosed no legal infirmity in that approach. Penalty under Section 11AC and interest under Section 11AB were therefore not leviable, and the Revenue's challenge failed. en-us Wed, 22 Nov 2006 00:00:00 +0530 Mon, 23 Jul 2012 14:54:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120681 Excess Cenvat credit on capital goods was taken contrary to the Cenvat Rules, but it was reversed immediately when pointed out, was never utilised, and caused no loss to the Revenue. On those facts, the authorities found no basis to impose penalty or interest, and the appellate record disclosed no legal infirmity in that approach. Penalty under Section 11AC and interest under Section 11AB were therefore not leviable, and the Revenue's challenge failed. Case-Laws Central Excise Wed, 22 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120681