https://www.taxtmi.com/caselaws?id=339145 The Tribunal upheld the order-in-original that did not impose interest and penalty on the respondent for improperly availing CENVAT credit on non-eligible capital goods. Despite the Revenue's argument for imposing penalties, the Tribunal found the respondent's actions to be in good faith as they reversed the credit and discharged the interest liability upon audit discovery. Citing a High Court decision, the Tribunal concluded that the respondent's belief in the availability of the credit was reasonable, leading to the rejection of the Revenue's appeal. en-us Wed, 11 Jan 2017 00:00:00 +0530 Mon, 20 Feb 2017 00:42:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339145 The Tribunal upheld the order-in-original that did not impose interest and penalty on the respondent for improperly availing CENVAT credit on non-eligible capital goods. Despite the Revenue's argument for imposing penalties, the Tribunal found the respondent's actions to be in good faith as they reversed the credit and discharged the interest liability upon audit discovery. Citing a High Court decision, the Tribunal concluded that the respondent's belief in the availability of the credit was reasonable, leading to the rejection of the Revenue's appeal. Case-Laws Service Tax Wed, 11 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339145