TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
When case Id is present, search is done only for this
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Appellate Tribunal CESTAT: Waiver of Penalty for Reversed Cenvat Credit</h1> <h3>HCL Info Systems Ltd. Versus Commissioner of Central Excise, Noida</h3> The Appellate Tribunal CESTAT, New Delhi ruled in favor of the Appellant, who promptly reversed the Cenvat credit upon audit discovery of incorrect credit ... Penalty - Wrong availment of Cenvat Credit - appellant immediately reversed the Cenvat credit to satisfy the point arise in audit. - Revenue impose penalty - Held that - There is no whisper about deliberate breach of law by the appellant which normally is consideration while invoking penalty provision. The appellant may not be denied the benefit of Section 80 of the Finance Act, accordingly penalty is waived out appeal is allowed. The Appellate Tribunal CESTAT, New Delhi ruled in favor of the Appellant. The appellant reversed the Cenvat credit immediately upon audit's pointing out of wrong credit availed. No deliberate breach of law was found to avoid service tax payment. Penalty was waived as there was no wilful breach of law and no default reason was identified. Penalty of Rs. 2,70,467/- was waived, and the appeal was allowed confirming tax and interest payable.
TaxTMI 
TaxTMI 
