https://www.taxtmi.com/caselaws?id=153617 Penalty under Section 11AC was treated as inapplicable where excess Cenvat credit on capital goods arose from a mistaken understanding of the bar under Rule 4(4) of the Cenvat Credit Rules, 2002. The assessee had reversed the credit with interest after audit objection, and the record did not establish suppression, mala fide intent, or deliberate evasion. In those circumstances, the Tribunal held that the penal provision could not be invoked and the deletion of penalty was affirmed. en-us Thu, 24 Dec 2009 00:00:00 +0530 Thu, 25 Jul 2013 17:43:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=153617 Penalty under Section 11AC was treated as inapplicable where excess Cenvat credit on capital goods arose from a mistaken understanding of the bar under Rule 4(4) of the Cenvat Credit Rules, 2002. The assessee had reversed the credit with interest after audit objection, and the record did not establish suppression, mala fide intent, or deliberate evasion. In those circumstances, the Tribunal held that the penal provision could not be invoked and the deletion of penalty was affirmed. Case-Laws Central Excise Thu, 24 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=153617