https://www.taxtmi.com/caselaws?id=371029 The Tribunal ruled in favor of the appellants, setting aside the demand for interest and penalty imposed by Commissioner (A) for mistakenly availing 100% CENVAT credit on capital goods instead of the correct 50%. The Tribunal found the mistake to be genuine, promptly rectified by the appellants before any formal notice was issued, with the credit remaining unused. Citing legal precedents, including CCE vs. Bill Forge, the Tribunal concluded that interest and penalty were not applicable in this scenario, leading to a judgment in favor of the appellants. en-us Thu, 25 Oct 2018 00:00:00 +0530 Wed, 28 Nov 2018 08:35:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371029 The Tribunal ruled in favor of the appellants, setting aside the demand for interest and penalty imposed by Commissioner (A) for mistakenly availing 100% CENVAT credit on capital goods instead of the correct 50%. The Tribunal found the mistake to be genuine, promptly rectified by the appellants before any formal notice was issued, with the credit remaining unused. Citing legal precedents, including CCE vs. Bill Forge, the Tribunal concluded that interest and penalty were not applicable in this scenario, leading to a judgment in favor of the appellants. Case-Laws Central Excise Thu, 25 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371029