https://www.taxtmi.com/caselaws?id=201419 The tribunal upheld penalties on all parties involved in the fraudulent scheme to avail inadmissible Cenvat credit. M/s. Nasik Strips Pvt. Ltd. admitted to wrongful credit availment and paid duty before the show cause notice. Director of NSPL was penalized under Rule 26, despite not physically handling goods. Penalties on other firms were upheld, rejecting the argument that only individuals, not firms, could be penalized. JSW Steel Ltd.'s penalty was confirmed as it was complicit in the fraud. All penalties were affirmed based on the detailed analysis provided. en-us Wed, 10 Feb 2010 00:00:00 +0530 Fri, 07 Jan 2011 12:56:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201419 The tribunal upheld penalties on all parties involved in the fraudulent scheme to avail inadmissible Cenvat credit. M/s. Nasik Strips Pvt. Ltd. admitted to wrongful credit availment and paid duty before the show cause notice. Director of NSPL was penalized under Rule 26, despite not physically handling goods. Penalties on other firms were upheld, rejecting the argument that only individuals, not firms, could be penalized. JSW Steel Ltd.'s penalty was confirmed as it was complicit in the fraud. All penalties were affirmed based on the detailed analysis provided. Case-Laws Central Excise Wed, 10 Feb 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201419