https://www.taxtmi.com/caselaws?id=151815 Interest was held not payable on wrongly taken Cenvat credit where the credit had not been utilised and was voluntarily reversed before adjudication. On the same facts, penalty was also found unwarranted because the unutilised credit had been reversed and no surviving basis for penal action remained. The result was that the demand of interest and penalty was set aside, with consequential relief granted. en-us Fri, 05 Jun 2009 00:00:00 +0530 Mon, 17 Jun 2013 14:14:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151815 Interest was held not payable on wrongly taken Cenvat credit where the credit had not been utilised and was voluntarily reversed before adjudication. On the same facts, penalty was also found unwarranted because the unutilised credit had been reversed and no surviving basis for penal action remained. The result was that the demand of interest and penalty was set aside, with consequential relief granted. Case-Laws Central Excise Fri, 05 Jun 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151815