https://www.taxtmi.com/caselaws?id=377345 The Appellate Tribunal CESTAT Chennai ruled in a case concerning the demand of interest and penalties on wrongly availed credit that was subsequently reversed by the appellants, manufacturers of Steel Forgings and machined Aluminium rings and End cuttings. The Tribunal held that interest and penalties could not be sustained as the wrongly availed credit had been reversed before utilization, citing precedent. The demand for interest and penalties was set aside, while the demand itself was confirmed. The appeals were allowed with consequential reliefs, with the judgment delivered by Smt. Sulekha Beevi C.S, Judicial Member. en-us Fri, 04 Jan 2019 00:00:00 +0530 Thu, 28 Mar 2019 06:59:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377345 The Appellate Tribunal CESTAT Chennai ruled in a case concerning the demand of interest and penalties on wrongly availed credit that was subsequently reversed by the appellants, manufacturers of Steel Forgings and machined Aluminium rings and End cuttings. The Tribunal held that interest and penalties could not be sustained as the wrongly availed credit had been reversed before utilization, citing precedent. The demand for interest and penalties was set aside, while the demand itself was confirmed. The appeals were allowed with consequential reliefs, with the judgment delivered by Smt. Sulekha Beevi C.S, Judicial Member. Case-Laws Central Excise Fri, 04 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377345