https://www.taxtmi.com/caselaws?id=341926 The Appellate Tribunal CESTAT Hyderabad ruled in favor of the appellant, a public sector bank, in a case concerning irregular CENVAT credit availment. The Tribunal held that the demand for recovery of credit, interest, and penalties was time-barred due to the absence of intent to evade tax and the setting aside of penalties under Section 80 of the Finance Act, 1994. Emphasizing the harmonious interpretation of relevant provisions, the Tribunal concluded that the appellant's lack of mala fide intention and the application of reasonable cause for failure to pay duty warranted ruling in favor of the appellant and allowing the appeal with consequential reliefs. en-us Mon, 20 Mar 2017 00:00:00 +0530 Thu, 20 Apr 2017 10:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341926 The Appellate Tribunal CESTAT Hyderabad ruled in favor of the appellant, a public sector bank, in a case concerning irregular CENVAT credit availment. The Tribunal held that the demand for recovery of credit, interest, and penalties was time-barred due to the absence of intent to evade tax and the setting aside of penalties under Section 80 of the Finance Act, 1994. Emphasizing the harmonious interpretation of relevant provisions, the Tribunal concluded that the appellant's lack of mala fide intention and the application of reasonable cause for failure to pay duty warranted ruling in favor of the appellant and allowing the appeal with consequential reliefs. Case-Laws Service Tax Mon, 20 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341926