https://www.taxtmi.com/caselaws?id=125371 Wrongful simultaneous availment of depreciation and Cenvat credit, once pointed out by the department and reversed thereafter, did not justify the full statutory penalty under Section 11AC. The Tribunal treated the lapse as penal in nature but accepted that a lesser penalty was appropriate, especially where the appellant did not dispute penalty under Rule 27 of the Central Excise Rules, 2002. Accordingly, the harsher penalty was set aside and replaced with a nominal penalty under the general penalty provision. en-us Thu, 09 Apr 2009 00:00:00 +0530 Tue, 23 Oct 2012 14:46:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125371 Wrongful simultaneous availment of depreciation and Cenvat credit, once pointed out by the department and reversed thereafter, did not justify the full statutory penalty under Section 11AC. The Tribunal treated the lapse as penal in nature but accepted that a lesser penalty was appropriate, especially where the appellant did not dispute penalty under Rule 27 of the Central Excise Rules, 2002. Accordingly, the harsher penalty was set aside and replaced with a nominal penalty under the general penalty provision. Case-Laws Central Excise Thu, 09 Apr 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125371