https://www.taxtmi.com/caselaws?id=348870 The Tribunal ruled in favor of the appellant in a case involving the availing of Cenvat credit based on debit notes not prescribed under Rule 9 of the Cenvat Credit Rules, 2004. The Tribunal emphasized that interest and penalties cannot be confirmed in the absence of credit utilization for paying Service Tax, following precedents and the compensatory nature of interest under Rule 14 of the Cenvat Credit Rules, 2004. As the wrongly availed credit was not utilized for tax payment, the Tribunal set aside the impugned order, relieving the appellant of the interest demand and penalty imposition. en-us Wed, 06 Sep 2017 00:00:00 +0530 Tue, 03 Oct 2017 06:31:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348870 The Tribunal ruled in favor of the appellant in a case involving the availing of Cenvat credit based on debit notes not prescribed under Rule 9 of the Cenvat Credit Rules, 2004. The Tribunal emphasized that interest and penalties cannot be confirmed in the absence of credit utilization for paying Service Tax, following precedents and the compensatory nature of interest under Rule 14 of the Cenvat Credit Rules, 2004. As the wrongly availed credit was not utilized for tax payment, the Tribunal set aside the impugned order, relieving the appellant of the interest demand and penalty imposition. Case-Laws Service Tax Wed, 06 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348870