https://www.taxtmi.com/caselaws?id=431248 The Tribunal upheld the demand for interest on mistakenly availed Cenvat credit, even though it was promptly reversed before utilization, citing the Supreme Court judgment in Ind-Swift Laboratories. The penalty under section 11 AC was also upheld as the extended period was invoked, and the penalty is mandatory when demand under the extended period is sustained, following the Supreme Court judgment in Union of India Vs. Dharamendra Textile Processors. The appellant's argument to reduce or waive the penalty was rejected, and the appeal was dismissed, affirming the lower authorities' decision on interest and penalty imposition. en-us Fri, 02 Dec 2022 00:00:00 +0530 Fri, 09 Dec 2022 09:59:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431248 The Tribunal upheld the demand for interest on mistakenly availed Cenvat credit, even though it was promptly reversed before utilization, citing the Supreme Court judgment in Ind-Swift Laboratories. The penalty under section 11 AC was also upheld as the extended period was invoked, and the penalty is mandatory when demand under the extended period is sustained, following the Supreme Court judgment in Union of India Vs. Dharamendra Textile Processors. The appellant's argument to reduce or waive the penalty was rejected, and the appeal was dismissed, affirming the lower authorities' decision on interest and penalty imposition. Case-Laws Central Excise Fri, 02 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431248