https://www.taxtmi.com/caselaws?id=354717 The Tribunal allowed the appeal in favor of the appellants, who were found to have availed excess input credit due to accounting errors during a software transition. The appellants reversed the credit before utilization, had sufficient balance in the CENVAT account, and did not intend to gain undue advantage. The Tribunal, citing a High Court decision, set aside the demand for interest and penalties, emphasizing that mere availing of credit did not warrant such charges. The Tribunal upheld the demand for excess credit availed but ruled out the imposition of interest and penalty, modifying the original order accordingly. en-us Thu, 01 Feb 2018 00:00:00 +0530 Sat, 03 Feb 2018 08:31:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354717 The Tribunal allowed the appeal in favor of the appellants, who were found to have availed excess input credit due to accounting errors during a software transition. The appellants reversed the credit before utilization, had sufficient balance in the CENVAT account, and did not intend to gain undue advantage. The Tribunal, citing a High Court decision, set aside the demand for interest and penalties, emphasizing that mere availing of credit did not warrant such charges. The Tribunal upheld the demand for excess credit availed but ruled out the imposition of interest and penalty, modifying the original order accordingly. Case-Laws Central Excise Thu, 01 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354717