https://www.taxtmi.com/caselaws?id=325119 The Tribunal ruled in favor of the appellant, holding that while interest was payable on the wrongly availed Cenvat Credit, no penalty was warranted due to the absence of fraudulent intent or willful misstatement. The appellant promptly reversed the erroneously availed credit upon detection, indicating no deliberate attempt to avail it wrongly. The extended limitation period for the show-cause notice was deemed unjustified as there was no willful misstatement or suppression of facts. Ultimately, the appellant was not liable for penalty but was required to pay interest on the amount of wrongly availed Cenvat Credit. en-us Fri, 29 Jan 2016 00:00:00 +0530 Mon, 17 Oct 2016 15:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325119 The Tribunal ruled in favor of the appellant, holding that while interest was payable on the wrongly availed Cenvat Credit, no penalty was warranted due to the absence of fraudulent intent or willful misstatement. The appellant promptly reversed the erroneously availed credit upon detection, indicating no deliberate attempt to avail it wrongly. The extended limitation period for the show-cause notice was deemed unjustified as there was no willful misstatement or suppression of facts. Ultimately, the appellant was not liable for penalty but was required to pay interest on the amount of wrongly availed Cenvat Credit. Case-Laws Central Excise Fri, 29 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325119