https://www.taxtmi.com/caselaws?id=374444 The Tribunal set aside the demand for interest and penalty in a case where the appellant availed CENVAT Credit on input services for duty payment on finished goods cleared for home consumption but cleared final products without duty payment. The Tribunal ruled that interest and penalty are applicable only when the credit is taken and utilized, not when it is reversed subsequently. The decision was based on a precedent where a similar situation did not attract interest or penalty, and the lack of contradictory evidence led to the appeal being allowed. en-us Thu, 04 Oct 2018 00:00:00 +0530 Sat, 02 Feb 2019 09:23:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=374444 The Tribunal set aside the demand for interest and penalty in a case where the appellant availed CENVAT Credit on input services for duty payment on finished goods cleared for home consumption but cleared final products without duty payment. The Tribunal ruled that interest and penalty are applicable only when the credit is taken and utilized, not when it is reversed subsequently. The decision was based on a precedent where a similar situation did not attract interest or penalty, and the lack of contradictory evidence led to the appeal being allowed. Case-Laws Central Excise Thu, 04 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=374444