https://www.taxtmi.com/caselaws?id=76761 Penalty for wrongful availment of Cenvat credit was held unsustainable where the disputed credit was reversed in full with interest before the show cause notice and no duty demand was proposed or confirmed. The record did not establish the statutory ingredients for action under section 11AC, namely fraud, suppression of facts, wilful misstatement, or contravention with intent to evade duty. In the absence of those elements, the penal provision could not be invoked, and the penalty order was set aside in favour of the assessee. en-us Tue, 22 Sep 2009 00:00:00 +0530 Fri, 16 Jul 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=76761 Penalty for wrongful availment of Cenvat credit was held unsustainable where the disputed credit was reversed in full with interest before the show cause notice and no duty demand was proposed or confirmed. The record did not establish the statutory ingredients for action under section 11AC, namely fraud, suppression of facts, wilful misstatement, or contravention with intent to evade duty. In the absence of those elements, the penal provision could not be invoked, and the penalty order was set aside in favour of the assessee. Case-Laws Central Excise Tue, 22 Sep 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=76761