https://www.taxtmi.com/caselaws?id=257725 Credit of additional duty under the 1978 Act could not be cross-utilised for basic excise duty or additional duty under the 1957 Act, because the two levies were treated as distinct and the relevant notifications, transitional provisions and Cenvat Credit Rules did not permit such use. The Court read the word "respectively" in the transitional scheme as reflecting the existing restrictive position, not creating a new entitlement to free cross-utilisation. Interest was recoverable on wrongful utilisation of credit, as the statutory framework was wide enough to cover amounts not duly paid. Penalty, however, was deleted, the Court finding no justification for penal consequences in the circumstances. en-us Thu, 05 Mar 2015 00:00:00 +0530 Sat, 03 Oct 2015 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257725 Credit of additional duty under the 1978 Act could not be cross-utilised for basic excise duty or additional duty under the 1957 Act, because the two levies were treated as distinct and the relevant notifications, transitional provisions and Cenvat Credit Rules did not permit such use. The Court read the word "respectively" in the transitional scheme as reflecting the existing restrictive position, not creating a new entitlement to free cross-utilisation. Interest was recoverable on wrongful utilisation of credit, as the statutory framework was wide enough to cover amounts not duly paid. Penalty, however, was deleted, the Court finding no justification for penal consequences in the circumstances. Case-Laws Central Excise Thu, 05 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257725