https://www.taxtmi.com/caselaws?id=375406 The Tribunal held that the wrongly availed cenvat credit, promptly reversed upon discovery, did not result in revenue loss, rendering the recovery order meaningless. The show cause notice (SCN) issued in 2013 was deemed time-barred, as the credit error was rectified in 2010. The imposition of penalty was considered unwarranted due to the absence of intentional evasion, with the appellant benefiting from Section 80 of the Finance Act, 1994. Additionally, interest imposition was rejected as the credit was not utilized, aligning with established court decisions against charging interest in such cases. The Tribunal emphasized statutory provisions over a Board's Circular, ultimately allowing the appeal. en-us Thu, 20 Dec 2018 00:00:00 +0530 Fri, 28 Feb 2020 17:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375406 The Tribunal held that the wrongly availed cenvat credit, promptly reversed upon discovery, did not result in revenue loss, rendering the recovery order meaningless. The show cause notice (SCN) issued in 2013 was deemed time-barred, as the credit error was rectified in 2010. The imposition of penalty was considered unwarranted due to the absence of intentional evasion, with the appellant benefiting from Section 80 of the Finance Act, 1994. Additionally, interest imposition was rejected as the credit was not utilized, aligning with established court decisions against charging interest in such cases. The Tribunal emphasized statutory provisions over a Board's Circular, ultimately allowing the appeal. Case-Laws Service Tax Thu, 20 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375406