https://www.taxtmi.com/caselaws?id=77781 The Tribunal upheld the demand and penalty under Section 11AC of the Central Excise Act against the appellant for availing credit on HR Sheets used in manufacturing finished goods. The appellant was found liable to reverse credit equal to that availed at receipt. However, the Tribunal set aside the time-barred demand, deeming the suppression allegation unsustainable. The penalty imposition was also overturned due to lack of substantiation. Ultimately, the appeal was disposed of in favor of the appellant on the issues of time limitation and penalty. en-us Wed, 17 Mar 2010 00:00:00 +0530 Sat, 09 Oct 2010 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77781 The Tribunal upheld the demand and penalty under Section 11AC of the Central Excise Act against the appellant for availing credit on HR Sheets used in manufacturing finished goods. The appellant was found liable to reverse credit equal to that availed at receipt. However, the Tribunal set aside the time-barred demand, deeming the suppression allegation unsustainable. The penalty imposition was also overturned due to lack of substantiation. Ultimately, the appeal was disposed of in favor of the appellant on the issues of time limitation and penalty. Case-Laws Central Excise Wed, 17 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77781