https://www.taxtmi.com/caselaws?id=152055 Penalty under Section 11AC of the Central Excise Act was upheld where the assessee cleared defective inputs without reversing CENVAT credit or paying duty under Rule 3(5) of the CENVAT Credit Rules, 2002. The record showed invoices reflecting the value and duty payable on the clearances, which supported knowledge of the duty liability. Suppression of facts with intent to evade duty was further corroborated by the admission of the Chairman and Managing Director. On these facts, the ingredients for penalty were held to be established and the challenge failed. en-us Fri, 20 Nov 2009 00:00:00 +0530 Sat, 22 Jun 2013 13:34:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152055 Penalty under Section 11AC of the Central Excise Act was upheld where the assessee cleared defective inputs without reversing CENVAT credit or paying duty under Rule 3(5) of the CENVAT Credit Rules, 2002. The record showed invoices reflecting the value and duty payable on the clearances, which supported knowledge of the duty liability. Suppression of facts with intent to evade duty was further corroborated by the admission of the Chairman and Managing Director. On these facts, the ingredients for penalty were held to be established and the challenge failed. Case-Laws Central Excise Fri, 20 Nov 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152055