https://www.taxtmi.com/caselaws?id=239603 The Tribunal confirmed the demand of duty, set aside the confirmation of interest, and imposition of penalties. It held that if wrongly availed credit is reversed without utilization, no interest is payable. The Tribunal considered the bonafide nature of the mistake and absence of malafide intention, stating that penal action was not warranted as the mistake was clerical and did not cause prejudice to the Revenue. en-us Mon, 22 Jul 2013 00:00:00 +0530 Thu, 02 Jan 2014 14:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239603 The Tribunal confirmed the demand of duty, set aside the confirmation of interest, and imposition of penalties. It held that if wrongly availed credit is reversed without utilization, no interest is payable. The Tribunal considered the bonafide nature of the mistake and absence of malafide intention, stating that penal action was not warranted as the mistake was clerical and did not cause prejudice to the Revenue. Case-Laws Central Excise Mon, 22 Jul 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239603