https://www.taxtmi.com/caselaws?id=201719 Penalty under rule 13(2) of the CENVAT Credit Rules, 2002 read with section 11AC of the Central Excise Act, 1944 was held unavailable because the essential ingredients of fraud, wilful misstatement, collusion, suppression of facts, or intent to evade duty were not proved. The record showed, at most, inadequate invoice verification and an inference that the assessee facilitated irregular credit, but the authorities lacked solid evidence that the assessee was party to the fraud. As the finding of suppression rested on conjecture rather than material evidence, the harsher penal provision could not be applied and no substantial question of law arose. en-us Wed, 01 Dec 2010 00:00:00 +0530 Tue, 22 Feb 2011 10:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201719 Penalty under rule 13(2) of the CENVAT Credit Rules, 2002 read with section 11AC of the Central Excise Act, 1944 was held unavailable because the essential ingredients of fraud, wilful misstatement, collusion, suppression of facts, or intent to evade duty were not proved. The record showed, at most, inadequate invoice verification and an inference that the assessee facilitated irregular credit, but the authorities lacked solid evidence that the assessee was party to the fraud. As the finding of suppression rested on conjecture rather than material evidence, the harsher penal provision could not be applied and no substantial question of law arose. Case-Laws Central Excise Wed, 01 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201719