https://www.taxtmi.com/caselaws?id=107178 Penalty was not leviable where duty credit was taken in the personal ledger account on the same day as tendering bankers' cheques and TR-6 challans, because the instruments were treated as cash-equivalent payment and the delay in Government account credit arose from bank processing and realisation. The appellant had acted consistently with RBI clarification and the Commissioner's trade notice, and no mechanism was shown by which the appellant could know the actual date of realisation. On that basis, the allegation of PLA overdrawal and removal of goods without duty payment was not sustainable, and relief followed. en-us Fri, 03 Jan 2003 00:00:00 +0530 Mon, 19 Mar 2012 12:26:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=107178 Penalty was not leviable where duty credit was taken in the personal ledger account on the same day as tendering bankers' cheques and TR-6 challans, because the instruments were treated as cash-equivalent payment and the delay in Government account credit arose from bank processing and realisation. The appellant had acted consistently with RBI clarification and the Commissioner's trade notice, and no mechanism was shown by which the appellant could know the actual date of realisation. On that basis, the allegation of PLA overdrawal and removal of goods without duty payment was not sustainable, and relief followed. Case-Laws Central Excise Fri, 03 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=107178