https://www.taxtmi.com/caselaws?id=344357 Wrongly availed Cenvat credit, when reversed before utilisation, is treated as if no credit had been taken, so the conditions for recovery of interest are not attracted and interest is not payable. The article also notes that a penalty for contravention of the rules was sustained on the facts recorded. The practical effect is that pre-utilisation reversal protects the assessee from interest liability, but does not automatically eliminate penalty exposure where rule violation is found. en-us Fri, 09 Jun 2017 00:00:00 +0530 Fri, 22 Sep 2017 18:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344357 Wrongly availed Cenvat credit, when reversed before utilisation, is treated as if no credit had been taken, so the conditions for recovery of interest are not attracted and interest is not payable. The article also notes that a penalty for contravention of the rules was sustained on the facts recorded. The practical effect is that pre-utilisation reversal protects the assessee from interest liability, but does not automatically eliminate penalty exposure where rule violation is found. Case-Laws Central Excise Fri, 09 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344357