Interest leviable on Ineligible ITC Transitioned from Pre-GST Regime; Penalty u/s 74(1) Set Aside

Deendayal Port Authority Through Secretary Vs Union of India & Ors. (Gujarat High Court) Conclusion: Interest was leviable under section 50 on assessee for wrongly availing Cenvat credit. However, there was no conscious or deliberate wrong doing on part of assessee and as such, the order passed by the adjudicating authority confirming the disallowance of claim of assessee of transitional Cenvat Credit of Rs. 27,78,825/- out of transitional Cenvat credit of Rs.99,46,810/-could not be said to be claim made for a reason on account of fraud or any suppression of fact to evade tax. Therefore, n...