https://www.taxtmi.com/caselaws?id=334167 The appeal was allowed as the Judicial Member ruled in favor of the appellant, a Public Sector Undertaking, in a case concerning the demand of interest and penalty under the Cenvat Credit Rules, 2004. Citing precedents and decisions by higher authorities, it was established that interest and penalty are not applicable if wrongly availed credit is reversed before utilization. The Commissioner's order confirming the demand for interest and imposition of penalty was set aside, with the appellant not being liable for interest and penalty. The judgment provided consequential relief if required, bringing the matter to a close. en-us Fri, 02 Sep 2016 00:00:00 +0530 Sat, 05 Nov 2016 06:39:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334167 The appeal was allowed as the Judicial Member ruled in favor of the appellant, a Public Sector Undertaking, in a case concerning the demand of interest and penalty under the Cenvat Credit Rules, 2004. Citing precedents and decisions by higher authorities, it was established that interest and penalty are not applicable if wrongly availed credit is reversed before utilization. The Commissioner's order confirming the demand for interest and imposition of penalty was set aside, with the appellant not being liable for interest and penalty. The judgment provided consequential relief if required, bringing the matter to a close. Case-Laws Central Excise Fri, 02 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334167