https://www.taxtmi.com/caselaws?id=34925 Unutilised service tax credit standing on 10.09.2004 was treated as Cenvat credit under the Cenvat Credit Rules, 2004 and could be used in accordance with those rules, including for payment of central excise duty under Rule 3(4). The restriction that such credit could be used only for service tax was incorrect, so the denial of credit was set aside. Because the dispute turned on interpretation of the transitional credit provisions and the main disallowance failed, penalty was also not justified and was set aside. A smaller credit disallowance was maintained. en-us Wed, 22 Apr 2009 00:00:00 +0530 Wed, 12 May 2010 13:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=34925 Unutilised service tax credit standing on 10.09.2004 was treated as Cenvat credit under the Cenvat Credit Rules, 2004 and could be used in accordance with those rules, including for payment of central excise duty under Rule 3(4). The restriction that such credit could be used only for service tax was incorrect, so the denial of credit was set aside. Because the dispute turned on interpretation of the transitional credit provisions and the main disallowance failed, penalty was also not justified and was set aside. A smaller credit disallowance was maintained. Case-Laws Service Tax Wed, 22 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=34925