https://www.taxtmi.com/caselaws?id=269575 Interest and penalty were held not leviable where Cenvat credit was taken but remained unutilised, as the credit balance in the register never fell below the disputed amount during the relevant period. The later reversal of credit, without any finding of actual utilisation, was treated as insufficient to attract liability. Applying Rule 14 of the Cenvat Credit Rules, 2004 as read with the binding precedent relied upon, mere taking of credit was not enough to trigger interest and penalty. The issue was decided in favour of the assessee. en-us Wed, 04 Mar 2015 00:00:00 +0530 Thu, 17 Dec 2015 08:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269575 Interest and penalty were held not leviable where Cenvat credit was taken but remained unutilised, as the credit balance in the register never fell below the disputed amount during the relevant period. The later reversal of credit, without any finding of actual utilisation, was treated as insufficient to attract liability. Applying Rule 14 of the Cenvat Credit Rules, 2004 as read with the binding precedent relied upon, mere taking of credit was not enough to trigger interest and penalty. The issue was decided in favour of the assessee. Case-Laws Service Tax Wed, 04 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269575