https://www.taxtmi.com/caselaws?id=364061 The High Court dismissed the Revenue's appeal, ruling that the reversal of CENVAT credit before utilization exempted the Respondent Assessee from paying interest and penalty. The court found no evidence of suppression of facts or intent to evade duty, as the credit was taken inadvertently and promptly reversed upon discovery. Citing relevant case laws, the court held that interest is only applicable when duty is not paid on the due date. Consequently, the imposition of penalty under Section 11AC was deemed unjustified, and the appeal was dismissed without costs. en-us Wed, 04 Jul 2018 00:00:00 +0530 Mon, 23 Jul 2018 08:12:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=364061 The High Court dismissed the Revenue's appeal, ruling that the reversal of CENVAT credit before utilization exempted the Respondent Assessee from paying interest and penalty. The court found no evidence of suppression of facts or intent to evade duty, as the credit was taken inadvertently and promptly reversed upon discovery. Citing relevant case laws, the court held that interest is only applicable when duty is not paid on the due date. Consequently, the imposition of penalty under Section 11AC was deemed unjustified, and the appeal was dismissed without costs. Case-Laws Central Excise Wed, 04 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=364061