https://www.taxtmi.com/caselaws?id=340216 Credit reversed in assessment proceedings could not be restored suo motu without a formal order or the prescribed legal procedure; unilateral re-credit was therefore improper. However, although the procedural lapse was established, penalty was not justified on the facts because the credit had been reversed again before the impugned order and the then-existing rules did not clearly govern restoration of reversed credit. The penalty was set aside, while approval for suo motu restoration of the disputed credit was denied. en-us Mon, 06 Feb 2017 00:00:00 +0530 Thu, 16 Mar 2017 23:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340216 Credit reversed in assessment proceedings could not be restored suo motu without a formal order or the prescribed legal procedure; unilateral re-credit was therefore improper. However, although the procedural lapse was established, penalty was not justified on the facts because the credit had been reversed again before the impugned order and the then-existing rules did not clearly govern restoration of reversed credit. The penalty was set aside, while approval for suo motu restoration of the disputed credit was denied. Case-Laws Central Excise Mon, 06 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340216