https://www.taxtmi.com/caselaws?id=3241 Erroneously availed Cenvat credit attracted interest for the period it remained with the assessee, because Rule 12 required repayment of wrong credit along with interest once the excess amount was retained after intimation of the admissible credit. The interest demand was sustained. Penalty was not justified where the excess credit was reversed before issuance of the show cause notice, the credit had not been utilised, and the availment was under a bona fide belief. The penalty was therefore set aside. en-us Thu, 23 Aug 2007 00:00:00 +0530 Wed, 16 Apr 2008 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3241 Erroneously availed Cenvat credit attracted interest for the period it remained with the assessee, because Rule 12 required repayment of wrong credit along with interest once the excess amount was retained after intimation of the admissible credit. The interest demand was sustained. Penalty was not justified where the excess credit was reversed before issuance of the show cause notice, the credit had not been utilised, and the availment was under a bona fide belief. The penalty was therefore set aside. Case-Laws Central Excise Thu, 23 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3241