https://www.taxtmi.com/caselaws?id=438794 The Tribunal ruled in favor of the Appellant, finding no justification for imposing interest on inadvertently taken but unutilized Cenvat credit that was promptly reversed. Considering the sufficient credit balance and lack of revenue loss, the Tribunal set aside the orders, emphasizing the distinction between taking and utilizing credit. Analyzing legal provisions and precedents, including a rule amendment and relevant case law, the Tribunal concluded that interest is not payable when credit is not utilized, resulting in a revenue-neutral outcome for the Appellant. en-us Thu, 08 Jun 2023 00:00:00 +0530 Fri, 09 Jun 2023 08:53:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438794 The Tribunal ruled in favor of the Appellant, finding no justification for imposing interest on inadvertently taken but unutilized Cenvat credit that was promptly reversed. Considering the sufficient credit balance and lack of revenue loss, the Tribunal set aside the orders, emphasizing the distinction between taking and utilizing credit. Analyzing legal provisions and precedents, including a rule amendment and relevant case law, the Tribunal concluded that interest is not payable when credit is not utilized, resulting in a revenue-neutral outcome for the Appellant. Case-Laws Central Excise Thu, 08 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438794