https://www.taxtmi.com/caselaws?id=339012 Belated filing of the application and delayed interest payment did not justify denial of substantive relief under the retrospective remedial scheme for reversal of CENVAT credit, where the inadmissible credit had already been reversed and the department had verified the quantified amount. Penalty was not sustainable because the dispute arose from a misunderstanding of the credit provisions and there was no finding of wilful suppression or deliberate evasion. The matter was remanded only for limited verification of the arithmetic correctness of the amount already accepted and paid, with no further demand surviving if the calculation matched the departmental figure. en-us Wed, 09 Nov 2016 00:00:00 +0530 Fri, 17 Feb 2017 07:39:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339012 Belated filing of the application and delayed interest payment did not justify denial of substantive relief under the retrospective remedial scheme for reversal of CENVAT credit, where the inadmissible credit had already been reversed and the department had verified the quantified amount. Penalty was not sustainable because the dispute arose from a misunderstanding of the credit provisions and there was no finding of wilful suppression or deliberate evasion. The matter was remanded only for limited verification of the arithmetic correctness of the amount already accepted and paid, with no further demand surviving if the calculation matched the departmental figure. Case-Laws Central Excise Wed, 09 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339012