https://www.taxtmi.com/caselaws?id=179096 Incorrect Cenvat credit on capital goods was treated as inadmissible on the facts, and the assessee's prompt reversal before the show cause notice did not prevent confirmation of the reversed credit. The dispute was viewed as one of statutory interpretation rather than deliberate evasion, so the record did not support suppression, fraud, or other wilful misconduct. On that basis, penalty and interest were not justified, while the credit reversal already made by the assessee remained confirmed. en-us Wed, 11 Jun 2014 00:00:00 +0530 Sat, 20 Feb 2016 10:28:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=179096 Incorrect Cenvat credit on capital goods was treated as inadmissible on the facts, and the assessee's prompt reversal before the show cause notice did not prevent confirmation of the reversed credit. The dispute was viewed as one of statutory interpretation rather than deliberate evasion, so the record did not support suppression, fraud, or other wilful misconduct. On that basis, penalty and interest were not justified, while the credit reversal already made by the assessee remained confirmed. Case-Laws Central Excise Wed, 11 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=179096