https://www.taxtmi.com/caselaws?id=240415 The Tribunal ruled in favor of the appellant, finding that the appellant's practice of monthly reversals of CENVAT Credit aligned with established legal principles. The appellant's compliance with Notification No.30/2004 was deemed sufficient despite delayed reversals, with the Tribunal emphasizing adherence to legal precedents and rules. While interest payment on belated reversals was required, duty liability was not imposed. Penalties on the appellants were set aside, and the matter was remanded for quantifying interest on delayed reversals, highlighting the importance of following legal requirements and precedents in duty liability determinations. en-us Wed, 13 Nov 2013 00:00:00 +0530 Tue, 26 May 2015 15:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240415 The Tribunal ruled in favor of the appellant, finding that the appellant's practice of monthly reversals of CENVAT Credit aligned with established legal principles. The appellant's compliance with Notification No.30/2004 was deemed sufficient despite delayed reversals, with the Tribunal emphasizing adherence to legal precedents and rules. While interest payment on belated reversals was required, duty liability was not imposed. Penalties on the appellants were set aside, and the matter was remanded for quantifying interest on delayed reversals, highlighting the importance of following legal requirements and precedents in duty liability determinations. Case-Laws Central Excise Wed, 13 Nov 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240415