https://www.taxtmi.com/caselaws?id=352553 The Tribunal ruled in favor of the appellant, finding that they had correctly availed 50% CENVAT credit on capital goods and had not utilized the excess credit. The Tribunal clarified that Rule 4(2) of the CENVAT Credit Rules pertains to utilization rather than just availing credit. Referring to precedents, the Tribunal held that if wrongly taken credit is reversed, the appellant is not liable to pay interest and penalty. Consequently, the Tribunal set aside the impugned order and allowed the appellant's appeal. en-us Wed, 25 Oct 2017 00:00:00 +0530 Mon, 18 Dec 2017 08:24:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352553 The Tribunal ruled in favor of the appellant, finding that they had correctly availed 50% CENVAT credit on capital goods and had not utilized the excess credit. The Tribunal clarified that Rule 4(2) of the CENVAT Credit Rules pertains to utilization rather than just availing credit. Referring to precedents, the Tribunal held that if wrongly taken credit is reversed, the appellant is not liable to pay interest and penalty. Consequently, the Tribunal set aside the impugned order and allowed the appellant's appeal. Case-Laws Service Tax Wed, 25 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352553