https://www.taxtmi.com/caselaws?id=763303 CESTAT Allahabad allowed appeal in part regarding recovery of wrongly availed CENVAT credit with interest and penalties. The appellant, a public sector undertaking, had taken credit based on cover notes and later reversed excess credit. The tribunal found insufficient verification regarding whether credit was taken twice for same invoices/cover notes. Matter remanded to original authority for factual verification. Regarding extended limitation period and penalties under Section 78, tribunal held penalty should have been set aside under Section 80 of Finance Act, 1994 for public sector undertaking. en-us Tue, 17 Dec 2024 00:00:00 +0530 Tue, 17 Dec 2024 15:50:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763303 CESTAT Allahabad allowed appeal in part regarding recovery of wrongly availed CENVAT credit with interest and penalties. The appellant, a public sector undertaking, had taken credit based on cover notes and later reversed excess credit. The tribunal found insufficient verification regarding whether credit was taken twice for same invoices/cover notes. Matter remanded to original authority for factual verification. Regarding extended limitation period and penalties under Section 78, tribunal held penalty should have been set aside under Section 80 of Finance Act, 1994 for public sector undertaking. Case-Laws Service Tax Tue, 17 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763303