https://www.taxtmi.com/caselaws?id=126683 The Tribunal set aside the demand for 10% of the net sale price of exempted goods and penalty imposed under Section 11AC. It was held that the reversal of credit by the appellants post-clearance of goods is akin to not taking any credit, compensating the Revenue for the delay by payment of interest. Citing relevant precedents, the Tribunal ruled in favor of the appellants, emphasizing that the reversal of credit suffices, rendering the demand for 10% of the net sale price of exempted goods unsustainable. en-us Wed, 03 Jun 2009 00:00:00 +0530 Tue, 04 Dec 2012 15:56:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=126683 The Tribunal set aside the demand for 10% of the net sale price of exempted goods and penalty imposed under Section 11AC. It was held that the reversal of credit by the appellants post-clearance of goods is akin to not taking any credit, compensating the Revenue for the delay by payment of interest. Citing relevant precedents, the Tribunal ruled in favor of the appellants, emphasizing that the reversal of credit suffices, rendering the demand for 10% of the net sale price of exempted goods unsustainable. Case-Laws Central Excise Wed, 03 Jun 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=126683