https://www.taxtmi.com/caselaws?id=334036 The Tribunal ruled in favor of the appellant, setting aside the Commissioner's order. It held that interest on reversed cenvat credit was unjustified due to the absence of credit utilization before reversal, aligning with the appellant's argument supported by legal precedents. Additionally, the Tribunal concluded that the appellant was not liable for penalty under Rule 15(1) of the Cenvat Credit rules, 2004, following the interpretation of relevant legal provisions and the Madras High Court's decision. en-us Fri, 30 Sep 2016 00:00:00 +0530 Mon, 28 Nov 2016 15:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334036 The Tribunal ruled in favor of the appellant, setting aside the Commissioner's order. It held that interest on reversed cenvat credit was unjustified due to the absence of credit utilization before reversal, aligning with the appellant's argument supported by legal precedents. Additionally, the Tribunal concluded that the appellant was not liable for penalty under Rule 15(1) of the Cenvat Credit rules, 2004, following the interpretation of relevant legal provisions and the Madras High Court's decision. Case-Laws Central Excise Fri, 30 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334036