Company's 100% CENVAT Credit Availment on Capital Goods in First Year Deemed Unsustainable for Interest, Penalty.

Irregular availment of CENVAT Credit - 100% CENVAT credit on capital goods availed in the first year instead of 50% - they had sufficient balance in their CENVAT credit account and therefore, they have not utilized the said CENVAT credit and it was merely a book entry - Demand of Interest and penalty not sustainable. .....

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