https://www.taxtmi.com/caselaws?id=354649 The court ruled in favor of the appellant, holding that they were not liable to pay interest or penalties for the wrongly availed CENVAT credit that was promptly reversed. The judge emphasized that even before the amendment in Rule 14 of CENVAT Credit Rules, interest or penalties need not be paid if wrongly availed credit is reversed. The demand for interest and penalties was deemed unjustified, and the appeal was allowed, setting aside the imposition of interest and penalties while upholding the demand for the wrongly availed CENVAT credit. en-us Fri, 27 Oct 2017 00:00:00 +0530 Fri, 02 Feb 2018 09:15:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354649 The court ruled in favor of the appellant, holding that they were not liable to pay interest or penalties for the wrongly availed CENVAT credit that was promptly reversed. The judge emphasized that even before the amendment in Rule 14 of CENVAT Credit Rules, interest or penalties need not be paid if wrongly availed credit is reversed. The demand for interest and penalties was deemed unjustified, and the appeal was allowed, setting aside the imposition of interest and penalties while upholding the demand for the wrongly availed CENVAT credit. Case-Laws Central Excise Fri, 27 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354649