https://www.taxtmi.com/caselaws?id=418541 The tribunal ruled in favor of the appellant, a company providing IT services, in a case concerning the demand for excess CENVAT Credit, which was reversed by the appellant without utilization due to a technical error. Despite the appellant's corrective actions and explanations, the Revenue imposed interest and penalties. The tribunal held that interest is only payable when wrongly taken credit is utilized, finding the demand unjustified as the credit was reversed without utilization. Additionally, the tribunal deemed the show-cause notice issued after three years from the reversal as time-barred and lacking merit, ultimately setting aside the order and granting relief to the appellant. en-us Mon, 14 Feb 2022 00:00:00 +0530 Fri, 21 Oct 2022 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418541 The tribunal ruled in favor of the appellant, a company providing IT services, in a case concerning the demand for excess CENVAT Credit, which was reversed by the appellant without utilization due to a technical error. Despite the appellant's corrective actions and explanations, the Revenue imposed interest and penalties. The tribunal held that interest is only payable when wrongly taken credit is utilized, finding the demand unjustified as the credit was reversed without utilization. Additionally, the tribunal deemed the show-cause notice issued after three years from the reversal as time-barred and lacking merit, ultimately setting aside the order and granting relief to the appellant. Case-Laws Service Tax Mon, 14 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418541