https://www.taxtmi.com/caselaws?id=407973 The tribunal held that interest of Rs. 4,10,480/- on excess credit was payable as the demand notice was not time-barred. However, the penalty equal to the reversed credit amount was deemed unwarranted due to a clerical error during a software switch, lacking evidence of intentional misrepresentation. The appellant was directed to pay only the interest amount, which had already been reversed, with the penalty imposition under Rule 15(2) of CCR, 2004 set aside. This case underscores the importance of timely compliance with interest payments and the need for supporting evidence in penalty imposition for inadvertent errors. en-us Thu, 08 Apr 2021 00:00:00 +0530 Mon, 10 Jan 2022 12:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407973 The tribunal held that interest of Rs. 4,10,480/- on excess credit was payable as the demand notice was not time-barred. However, the penalty equal to the reversed credit amount was deemed unwarranted due to a clerical error during a software switch, lacking evidence of intentional misrepresentation. The appellant was directed to pay only the interest amount, which had already been reversed, with the penalty imposition under Rule 15(2) of CCR, 2004 set aside. This case underscores the importance of timely compliance with interest payments and the need for supporting evidence in penalty imposition for inadvertent errors. Case-Laws Central Excise Thu, 08 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407973