https://www.taxtmi.com/caselaws?id=220062 The Tribunal dismissed the Revenue's appeal seeking enhancement of penalty for availing excess/wrong credit under Cenvat Credit Rules, 2004. The Tribunal upheld the demand for Cenvat credit but set aside the demand for interest and reduced the penalty imposed on the assessee. The Tribunal ruled that interest had to be paid even if the credit was not utilized, but no penalty was applicable if the credit remained unutilized. Both the appeals by the assessee and the Revenue, along with the cross objection, were disposed of accordingly. en-us Fri, 07 Dec 2012 00:00:00 +0530 Fri, 04 Jan 2013 13:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220062 The Tribunal dismissed the Revenue's appeal seeking enhancement of penalty for availing excess/wrong credit under Cenvat Credit Rules, 2004. The Tribunal upheld the demand for Cenvat credit but set aside the demand for interest and reduced the penalty imposed on the assessee. The Tribunal ruled that interest had to be paid even if the credit was not utilized, but no penalty was applicable if the credit remained unutilized. Both the appeals by the assessee and the Revenue, along with the cross objection, were disposed of accordingly. Case-Laws Central Excise Fri, 07 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220062