https://www.taxtmi.com/caselaws?id=352276 Interest attaches to Cenvat credit that was actually utilised before later reversal, because the temporary use of the credit creates a compensable period of benefit; the interest liability is therefore confined to the utilised portion for that period. Penalty is not sustainable where the dutiability of the goods remained genuinely disputed and the assessee availed credit only as a precautionary measure, especially when the dispute continued for a long time. The stated legal effect is that interest may survive on utilised credit, but penal consequences are unwarranted on these facts. en-us Mon, 23 Oct 2017 00:00:00 +0530 Tue, 12 Dec 2017 09:03:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352276 Interest attaches to Cenvat credit that was actually utilised before later reversal, because the temporary use of the credit creates a compensable period of benefit; the interest liability is therefore confined to the utilised portion for that period. Penalty is not sustainable where the dutiability of the goods remained genuinely disputed and the assessee availed credit only as a precautionary measure, especially when the dispute continued for a long time. The stated legal effect is that interest may survive on utilised credit, but penal consequences are unwarranted on these facts. Case-Laws Central Excise Mon, 23 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352276