https://www.taxtmi.com/caselaws?id=333361 The Appellate Tribunal CESTAT CHENNAI directed the adjudicating authority to provide a fair opportunity for examination to the appellant within 15 days regarding the levy of interest based on the availability of sufficient credits in the statutory record. Emphasizing the importance of verifying the presence of adequate credits, the Tribunal clarified that if there is ample credit during the relevant period, no interest levy or penalty should occur. The judgment stressed the need for a straightforward verification process without burdening the appellant with technical application procedures, focusing on substance over form. Both appeals were remanded for a limited exercise on credit availability. en-us Wed, 03 Aug 2016 00:00:00 +0530 Wed, 12 Oct 2016 15:15:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333361 The Appellate Tribunal CESTAT CHENNAI directed the adjudicating authority to provide a fair opportunity for examination to the appellant within 15 days regarding the levy of interest based on the availability of sufficient credits in the statutory record. Emphasizing the importance of verifying the presence of adequate credits, the Tribunal clarified that if there is ample credit during the relevant period, no interest levy or penalty should occur. The judgment stressed the need for a straightforward verification process without burdening the appellant with technical application procedures, focusing on substance over form. Both appeals were remanded for a limited exercise on credit availability. Case-Laws Central Excise Wed, 03 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333361