https://www.taxtmi.com/caselaws?id=259075 Wrongly availed Cenvat credit reversed before utilisation does not attract interest where the credit was never used and no duty remained unpaid to the revenue. On the facts, the erroneous entry caused no revenue deprivation, so the interest demand was set aside. However, irregular availment of credit in excess of the duty reflected in documents, and failure to reverse credit on job-worked goods within the stipulated time, justified penalty. The penalty was therefore upheld in principle but reduced on the circumstances, granting only partial relief to the assessee. en-us Wed, 04 Feb 2015 00:00:00 +0530 Wed, 29 Apr 2015 07:46:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259075 Wrongly availed Cenvat credit reversed before utilisation does not attract interest where the credit was never used and no duty remained unpaid to the revenue. On the facts, the erroneous entry caused no revenue deprivation, so the interest demand was set aside. However, irregular availment of credit in excess of the duty reflected in documents, and failure to reverse credit on job-worked goods within the stipulated time, justified penalty. The penalty was therefore upheld in principle but reduced on the circumstances, granting only partial relief to the assessee. Case-Laws Central Excise Wed, 04 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259075