https://www.taxtmi.com/caselaws?id=730 Interest under the central excise regime was held unsustainable where the disputed credit had already been reversed before the show cause notice, because the underlying liability had been regularised before proceedings began. Penalty was also held inapplicable where the credit arose from a bona fide mistake in customs assessment, was reversed on detection, and the record did not show mala fides, conscious contravention, or reason to believe that the credit was impermissible. On those facts, both the interest demand and penalty could not be maintained. en-us Fri, 07 Jul 2006 00:00:00 +0530 Sun, 13 Apr 2008 17:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=730 Interest under the central excise regime was held unsustainable where the disputed credit had already been reversed before the show cause notice, because the underlying liability had been regularised before proceedings began. Penalty was also held inapplicable where the credit arose from a bona fide mistake in customs assessment, was reversed on detection, and the record did not show mala fides, conscious contravention, or reason to believe that the credit was impermissible. On those facts, both the interest demand and penalty could not be maintained. Case-Laws Central Excise Fri, 07 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=730