https://www.taxtmi.com/caselaws?id=337073 The Member (Judicial) set aside the penalty imposition on the appellant for irregularly availing CENVAT Credit on capital goods, noting that the credit was reversed before utilization and before the Show Cause Notice was issued. The judgment emphasizes the significance of promptly rectifying credit irregularities to prevent penalty imposition, as demonstrated by the unsustainable penalty in this case due to the timely reversal of credit. en-us Fri, 18 Nov 2016 00:00:00 +0530 Tue, 03 Jan 2017 10:52:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337073 The Member (Judicial) set aside the penalty imposition on the appellant for irregularly availing CENVAT Credit on capital goods, noting that the credit was reversed before utilization and before the Show Cause Notice was issued. The judgment emphasizes the significance of promptly rectifying credit irregularities to prevent penalty imposition, as demonstrated by the unsustainable penalty in this case due to the timely reversal of credit. Case-Laws Central Excise Fri, 18 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337073