https://www.taxtmi.com/caselaws?id=266391 Where Cenvat credit had to be reversed on clearance of dies as scrap under Rule 3(4), failure to reverse it at the time of clearance attracted interest for the period until reversal, and the interest demand was sustained. Penalty under Section 11AC was not leviable because the statutory ingredients for its invocation were not established on the facts, and the penalty was set aside. The appeal thus succeeded only on the penalty issue, while the interest liability remained upheld. en-us Fri, 13 Feb 2015 00:00:00 +0530 Mon, 19 Oct 2015 20:38:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=266391 Where Cenvat credit had to be reversed on clearance of dies as scrap under Rule 3(4), failure to reverse it at the time of clearance attracted interest for the period until reversal, and the interest demand was sustained. Penalty under Section 11AC was not leviable because the statutory ingredients for its invocation were not established on the facts, and the penalty was set aside. The appeal thus succeeded only on the penalty issue, while the interest liability remained upheld. Case-Laws Central Excise Fri, 13 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=266391