https://www.taxtmi.com/caselaws?id=1304 Delayed reversal of Cenvat credit after opting for exemption did not, on these facts, attract interest or penalty. The record showed that the credit had been availed when the final products were dutiable, and there was no wrong availment or wrong utilisation of credit. Rule 14 of the Cenvat Credit Rules, 2004, read with the corresponding recovery provisions and Sections 11A and 11AB of the Central Excise Act, applies where credit is taken, utilised wrongly, or erroneously refunded. Because the assessee reversed the credit before the show cause notice and the delay was explained, interest and penalty were held unsustainable. en-us Fri, 15 Sep 2006 00:00:00 +0530 Wed, 09 Jul 2008 18:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=1304 Delayed reversal of Cenvat credit after opting for exemption did not, on these facts, attract interest or penalty. The record showed that the credit had been availed when the final products were dutiable, and there was no wrong availment or wrong utilisation of credit. Rule 14 of the Cenvat Credit Rules, 2004, read with the corresponding recovery provisions and Sections 11A and 11AB of the Central Excise Act, applies where credit is taken, utilised wrongly, or erroneously refunded. Because the assessee reversed the credit before the show cause notice and the delay was explained, interest and penalty were held unsustainable. Case-Laws Central Excise Fri, 15 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=1304