https://www.taxtmi.com/caselaws?id=374397 When inadmissible credit is reversed with interest before issuance of a show cause notice, section 73(3) of the Finance Act, 1994 bars the notice on the tax demand and interest component. In the absence of any material showing suppression of facts or intent to evade tax, the record did not justify invoking penalty under Rule 15(3) of the Cenvat Credit Rules, 2004. The demand proceedings and penal action were therefore treated as unsustainable, and relief followed for the appellant. en-us Tue, 29 Jan 2019 00:00:00 +0530 Fri, 01 Feb 2019 07:28:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374397 When inadmissible credit is reversed with interest before issuance of a show cause notice, section 73(3) of the Finance Act, 1994 bars the notice on the tax demand and interest component. In the absence of any material showing suppression of facts or intent to evade tax, the record did not justify invoking penalty under Rule 15(3) of the Cenvat Credit Rules, 2004. The demand proceedings and penal action were therefore treated as unsustainable, and relief followed for the appellant. Case-Laws Service Tax Tue, 29 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374397