https://www.taxtmi.com/caselaws?id=377354 Wrongly availed CENVAT credit that was reversed before utilisation did not attract recovery of interest or penalty, because the disputed credit had not been used for payment of duty and the closing balance in the CENVAT account remained higher than the credit in question. Rule 14 of the CENVAT Credit Rules, as amended, applies where credit is wrongly taken and utilised; on the facts recorded, that condition was not met. Recovery of interest and penalty was therefore held unsustainable, and relief was granted to the assessee. en-us Mon, 25 Mar 2019 00:00:00 +0530 Thu, 28 Mar 2019 06:59:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377354 Wrongly availed CENVAT credit that was reversed before utilisation did not attract recovery of interest or penalty, because the disputed credit had not been used for payment of duty and the closing balance in the CENVAT account remained higher than the credit in question. Rule 14 of the CENVAT Credit Rules, as amended, applies where credit is wrongly taken and utilised; on the facts recorded, that condition was not met. Recovery of interest and penalty was therefore held unsustainable, and relief was granted to the assessee. Case-Laws Central Excise Mon, 25 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377354