https://www.taxtmi.com/caselaws?id=249362 Interest was held payable on wrongly availed and utilised Cenvat credit under the Central Excise law read with the Cenvat Credit Rules, and the earlier Larger Bench view relied on by the appellant was treated as no longer applicable. Penalty was also found justified because the ineligible credit had been taken more than once and was detected by audit, but the quantum was considered excessive on the facts and was reduced to Rs. 5,000. The result was that the interest demand was sustained while the penalty was retained only at a reduced amount, granting partial relief. en-us Mon, 23 Dec 2013 00:00:00 +0530 Fri, 11 Jul 2014 10:03:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249362 Interest was held payable on wrongly availed and utilised Cenvat credit under the Central Excise law read with the Cenvat Credit Rules, and the earlier Larger Bench view relied on by the appellant was treated as no longer applicable. Penalty was also found justified because the ineligible credit had been taken more than once and was detected by audit, but the quantum was considered excessive on the facts and was reduced to Rs. 5,000. The result was that the interest demand was sustained while the penalty was retained only at a reduced amount, granting partial relief. Case-Laws Central Excise Mon, 23 Dec 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249362