https://www.taxtmi.com/caselaws?id=223130 The First Appellate Authority found that the appellant had availed excess cenvat credit, which was promptly reversed before the show cause notice. The Authority held that the extended period of limitation could not be invoked as the error was discovered in a later verification, not during the initial audit. Relying on legal precedents, the Authority set aside the interest liability and penalty imposed, noting the appellant's voluntary correction of the mistake. Consequently, the appeal was allowed in favor of the appellant, overturning the demand for interest and penalty under Section 11AC of the Central Excise Act, 1944. en-us Tue, 09 Apr 2013 00:00:00 +0530 Fri, 16 Aug 2013 11:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=223130 The First Appellate Authority found that the appellant had availed excess cenvat credit, which was promptly reversed before the show cause notice. The Authority held that the extended period of limitation could not be invoked as the error was discovered in a later verification, not during the initial audit. Relying on legal precedents, the Authority set aside the interest liability and penalty imposed, noting the appellant's voluntary correction of the mistake. Consequently, the appeal was allowed in favor of the appellant, overturning the demand for interest and penalty under Section 11AC of the Central Excise Act, 1944. Case-Laws Central Excise Tue, 09 Apr 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=223130