https://www.taxtmi.com/caselaws?id=265495 The Tribunal set aside the interest demand and penalty imposed on the appellants for wrongly availing Cenvat Credit invoiced to the Head Office but utilized by a different unit. The Tribunal ruled that since the credit was promptly reversed upon audit detection, no interest was payable, as per the High Court of Gujarat's decision. Additionally, the penalty under Section 11AC was deemed inapplicable due to the lack of intent to evade duty. The Order In Original was upheld with modifications, allowing the appeal in favor of the appellants. en-us Mon, 21 Sep 2015 00:00:00 +0530 Sat, 07 May 2016 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265495 The Tribunal set aside the interest demand and penalty imposed on the appellants for wrongly availing Cenvat Credit invoiced to the Head Office but utilized by a different unit. The Tribunal ruled that since the credit was promptly reversed upon audit detection, no interest was payable, as per the High Court of Gujarat's decision. Additionally, the penalty under Section 11AC was deemed inapplicable due to the lack of intent to evade duty. The Order In Original was upheld with modifications, allowing the appeal in favor of the appellants. Case-Laws Central Excise Mon, 21 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265495