https://www.taxtmi.com/caselaws?id=444368 The Tribunal found that the appellant, by being prepared to reverse the credit and pay interest on the amount availed, was entitled to exemption despite initially availing cenvat credit on certain items. The Tribunal noted the appellant's payment of Rs. 2 Lacs but highlighted the need to quantify the interest element on the cenvat credit. It was determined that if the appellant reversed the credit, paid interest, and adjusted against the Rs. 2 Lacs already paid, any shortfall could be addressed during de-novo adjudication. The Tribunal set aside the impugned order, allowing the appeal for remand to calculate and ensure payment of interest before a reasoned de-novo order is issued by the Adjudicating Authority. en-us Wed, 11 Oct 2023 00:00:00 +0530 Sat, 14 Oct 2023 08:12:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444368 The Tribunal found that the appellant, by being prepared to reverse the credit and pay interest on the amount availed, was entitled to exemption despite initially availing cenvat credit on certain items. The Tribunal noted the appellant's payment of Rs. 2 Lacs but highlighted the need to quantify the interest element on the cenvat credit. It was determined that if the appellant reversed the credit, paid interest, and adjusted against the Rs. 2 Lacs already paid, any shortfall could be addressed during de-novo adjudication. The Tribunal set aside the impugned order, allowing the appeal for remand to calculate and ensure payment of interest before a reasoned de-novo order is issued by the Adjudicating Authority. Case-Laws Central Excise Wed, 11 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444368