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of <h1>Appeal denied for alleged Cenvat credit misuse under Central Excise Act.</h1> <h3>COMMISSIONER OF CENTRAL EXCISE, PUNE-I Versus PANSE AUTOCOMP PVT. LTD.</h3> The appeal against the penalty imposed under Section 11AC of the Central Excise Act, 1944, for alleged wrong availment of Cenvat credit on capital goods ... Penalty - Imposition of - Cenvat/Modvat Issues involved: Appeal against setting aside penalty imposed under Section 11AC of the Central Excise Act, 1944 read with Rule 13 of the Cenvat Credit Rules, 2004.Issue 1: Allegation of wrong availment of Cenvat credit on capital goodsThe appeal was filed by the Revenue against the setting aside of the penalty imposed on the respondent under Section 11AC of the Central Excise Act, 1944 read with Rule 13 of the Cenvat Credit Rules, 2004. The Revenue argued that since the respondent was found liable to pay the confirmed duty demand, penalty under Section 11AC should also be imposed. The records revealed that the respondent had availed 100% credit on capital goods instead of the permitted 50%. However, upon careful examination, it was determined that the allegations against the respondent did not meet the requirements specified under Section 11AC for penalty imposition. The Commissioner (Appeals) correctly concluded that the findings did not justify penalty imposition, and therefore, the appeal filed by the Revenue was rejected.This summary provides a detailed overview of the legal judgment involving the appeal against the penalty imposed under Section 11AC of the Central Excise Act, 1944.
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