https://www.taxtmi.com/caselaws?id=264833 The Tribunal allowed the appeal, following the decisions of the High Courts, and dismissed the recovery of interest and penalty for wrongly taken but unutilized CENVAT credit. The appellant's argument that interest and penalty should not be recoverable in such cases was upheld, emphasizing that reversal of credit before utilization is akin to not taking credit at all. The Tribunal's decision aligned with the interpretations of the Karnataka High Court and Madras High Court, providing relief to the appellant based on established legal principles and precedents. en-us Wed, 16 Sep 2015 00:00:00 +0530 Sat, 03 Oct 2015 22:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=264833 The Tribunal allowed the appeal, following the decisions of the High Courts, and dismissed the recovery of interest and penalty for wrongly taken but unutilized CENVAT credit. The appellant's argument that interest and penalty should not be recoverable in such cases was upheld, emphasizing that reversal of credit before utilization is akin to not taking credit at all. The Tribunal's decision aligned with the interpretations of the Karnataka High Court and Madras High Court, providing relief to the appellant based on established legal principles and precedents. Case-Laws Central Excise Wed, 16 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=264833