https://www.taxtmi.com/caselaws?id=327329 The Tribunal ruled in favor of the appellant, stating that the disallowance of Cenvat Credit on trading activity of passenger cars was not justified. The recovery of interest under Section 75 was deemed unsustainable due to the absence of intent to evade tax, leading to the appeal being allowed. The penalty imposed under Section 78 of the Finance Act was set aside as the Tribunal found it unwarranted, emphasizing the lack of intent to evade duty and ambiguity in the law before 1.4.2011 as key factors in overturning the penalty decision. en-us Tue, 29 Mar 2016 00:00:00 +0530 Sat, 19 Nov 2016 11:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327329 The Tribunal ruled in favor of the appellant, stating that the disallowance of Cenvat Credit on trading activity of passenger cars was not justified. The recovery of interest under Section 75 was deemed unsustainable due to the absence of intent to evade tax, leading to the appeal being allowed. The penalty imposed under Section 78 of the Finance Act was set aside as the Tribunal found it unwarranted, emphasizing the lack of intent to evade duty and ambiguity in the law before 1.4.2011 as key factors in overturning the penalty decision. Case-Laws Service Tax Tue, 29 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327329