https://www.taxtmi.com/caselaws?id=236981 Interest on wrongly taken Cenvat credit depends on the statutory regime in force. For periods before 1-4-2000, the rules did not permit interest merely because credit was wrongly taken; interest arose only when the credit was actually utilised, so no interest was payable for that earlier period. From 1-4-2000 until reversal, interest was payable under the amended framework. Penalty under Rule 173Q was linked to intent to evade duty, and the same culpable element governed the penal field under Section 11AC. As the credit was reversed when pointed out and no intent to evade was established, penalty was not sustainable. en-us Wed, 16 Nov 2011 00:00:00 +0530 Sat, 14 Sep 2013 11:30:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236981 Interest on wrongly taken Cenvat credit depends on the statutory regime in force. For periods before 1-4-2000, the rules did not permit interest merely because credit was wrongly taken; interest arose only when the credit was actually utilised, so no interest was payable for that earlier period. From 1-4-2000 until reversal, interest was payable under the amended framework. Penalty under Rule 173Q was linked to intent to evade duty, and the same culpable element governed the penal field under Section 11AC. As the credit was reversed when pointed out and no intent to evade was established, penalty was not sustainable. Case-Laws Central Excise Wed, 16 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236981