https://www.taxtmi.com/caselaws?id=775897 The CESTAT allowed the appeal in part, setting aside the penalty imposed under Section 15(2) of the CENVAT Credit Rules read with Section 78 of the Finance Act on the reversed credit amount of Rs. 13,06,662/-. The Tribunal held that recovery proceedings under Section 73 prohibit issuance of a show cause notice if reversal was made prior to such notice, and audit detection of inadmissible credit does not establish suppression or malafide intent warranting penalty. However, interest under Rule 14 read with Section 11AA of the Central Excise Act was confirmed on the reversed amount from the date of utilization until repayment, to be paid within two months. en-us Wed, 30 Jul 2025 00:00:00 +0530 Sat, 02 Aug 2025 07:24:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775897 The CESTAT allowed the appeal in part, setting aside the penalty imposed under Section 15(2) of the CENVAT Credit Rules read with Section 78 of the Finance Act on the reversed credit amount of Rs. 13,06,662/-. The Tribunal held that recovery proceedings under Section 73 prohibit issuance of a show cause notice if reversal was made prior to such notice, and audit detection of inadmissible credit does not establish suppression or malafide intent warranting penalty. However, interest under Rule 14 read with Section 11AA of the Central Excise Act was confirmed on the reversed amount from the date of utilization until repayment, to be paid within two months. Case-Laws Central Excise Wed, 30 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775897