2016 (1) TMI 1387 - AT - Central Excise

Availment of wrong credit - credit reversed and was not at all utilized - Held that - The unutilized credit was reversed for which there was no prejudice caused to Revenue. Therefore, calling for interest shall serve no useful purpose of law when interest of Revenue was not prejudice - appeal allowed.

Summary

The Appellate Tribunal CESTAT CHENNAI allowed the appeal as unutilized CENVAT credit was reversed, causing no prejudice to Revenue. Interest was not called for as Revenue was not prejudiced.