https://www.taxtmi.com/caselaws?id=356250 The Tribunal partially allowed the appeal against the penalty and interest imposed for the incorrect availment of Cenvat credit. It was found that although the appellant had mistakenly availed the credit twice on the same input invoice and on trading activity, they voluntarily reversed the amount before any notice was issued. The Tribunal concluded that imposing a penalty equal to the availed credit amount was not justified, but upheld the requirement to pay interest on the erroneous credit, even if not utilized. Therefore, the penalty was excluded, and the appeal was partly allowed. en-us Fri, 29 Dec 2017 00:00:00 +0530 Wed, 28 Feb 2018 06:29:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=356250 The Tribunal partially allowed the appeal against the penalty and interest imposed for the incorrect availment of Cenvat credit. It was found that although the appellant had mistakenly availed the credit twice on the same input invoice and on trading activity, they voluntarily reversed the amount before any notice was issued. The Tribunal concluded that imposing a penalty equal to the availed credit amount was not justified, but upheld the requirement to pay interest on the erroneous credit, even if not utilized. Therefore, the penalty was excluded, and the appeal was partly allowed. Case-Laws Central Excise Fri, 29 Dec 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=356250