https://www.taxtmi.com/caselaws?id=116834 The appellant's challenge to the imposition of a 25% duty liability penalty under Section 11AC of the Central Excise Act, 1944 for contravening Cenvat Credit Rules, 2002 was unsuccessful. The court upheld the decision to impose a 25% penalty, rejecting the appellant's arguments of acting in good faith and genuine belief in eligibility for credit. The court emphasized the rule mandating immediate credit reversal before transferring goods to other manufacturers, concluding that the appellant's actions constituted a violation warranting penalties. The appeal was dismissed, affirming the imposition of the penalty. en-us Thu, 17 Nov 2005 00:00:00 +0530 Mon, 18 Jun 2012 11:38:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116834 The appellant's challenge to the imposition of a 25% duty liability penalty under Section 11AC of the Central Excise Act, 1944 for contravening Cenvat Credit Rules, 2002 was unsuccessful. The court upheld the decision to impose a 25% penalty, rejecting the appellant's arguments of acting in good faith and genuine belief in eligibility for credit. The court emphasized the rule mandating immediate credit reversal before transferring goods to other manufacturers, concluding that the appellant's actions constituted a violation warranting penalties. The appeal was dismissed, affirming the imposition of the penalty. Case-Laws Central Excise Thu, 17 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116834