https://www.taxtmi.com/caselaws?id=367316 Where Cenvat credit on capital goods was wrongly availed but reversed before use, Rule 14 of the Cenvat Credit Rules, 2004, as read after amendment, was treated as applying to credit that is both taken and utilised. On that basis, mere availment without utilisation, followed by reversal, did not by itself trigger liability for interest or penalty. The Tribunal applied its earlier decision and the jurisdictional High Court's view to hold that interest and penalty were not leviable in such circumstances. en-us Fri, 29 Jun 2018 00:00:00 +0530 Wed, 19 Sep 2018 07:47:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367316 Where Cenvat credit on capital goods was wrongly availed but reversed before use, Rule 14 of the Cenvat Credit Rules, 2004, as read after amendment, was treated as applying to credit that is both taken and utilised. On that basis, mere availment without utilisation, followed by reversal, did not by itself trigger liability for interest or penalty. The Tribunal applied its earlier decision and the jurisdictional High Court's view to hold that interest and penalty were not leviable in such circumstances. Case-Laws Central Excise Fri, 29 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367316