https://www.taxtmi.com/caselaws?id=246397 The Tribunal confirmed the interest on late reversal of Modvat Credit and upheld the interest and reduced penalty imposed on the Appellants for incorrect reversal of Cenvat credit. The penalty was deemed unjustifiable due to oversight of law provisions, leading to its setting aside by the Tribunal. The appeal was partially allowed and partially rejected, with the Tribunal referencing legal provisions and court decisions to support its conclusions. en-us Tue, 28 Feb 2012 00:00:00 +0530 Thu, 06 Feb 2014 13:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246397 The Tribunal confirmed the interest on late reversal of Modvat Credit and upheld the interest and reduced penalty imposed on the Appellants for incorrect reversal of Cenvat credit. The penalty was deemed unjustifiable due to oversight of law provisions, leading to its setting aside by the Tribunal. The appeal was partially allowed and partially rejected, with the Tribunal referencing legal provisions and court decisions to support its conclusions. Case-Laws Central Excise Tue, 28 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246397