https://www.taxtmi.com/caselaws?id=116124 Penalties were held unsustainable where CENVAT credit had been reversed voluntarily before the dispute matured and the assessee's conduct showed bona fides. The availment of credit arose from a change in technology rather than any deliberate attempt to evade duty, and once the reversal was made, the matter was treated as though credit had not been taken. On that basis, the statutory foundation for penalty did not survive. The penalty on the excise clerk also fell once the penalty on the assessee was not maintainable. en-us Thu, 03 Feb 2005 00:00:00 +0530 Thu, 07 Jun 2012 14:38:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116124 Penalties were held unsustainable where CENVAT credit had been reversed voluntarily before the dispute matured and the assessee's conduct showed bona fides. The availment of credit arose from a change in technology rather than any deliberate attempt to evade duty, and once the reversal was made, the matter was treated as though credit had not been taken. On that basis, the statutory foundation for penalty did not survive. The penalty on the excise clerk also fell once the penalty on the assessee was not maintainable. Case-Laws Central Excise Thu, 03 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116124