https://www.taxtmi.com/caselaws?id=205825 Penalties for wrongful availment of cenvat credit were held unsustainable where the notice and lower orders contained no specific allegation of suppression, misdeclaration or intent to evade duty. The record showed that the credit was reversed and the amount was paid back promptly once the mistake was pointed out, which supported the absence of deliberate evasion. In that setting, penalty provisions could not be invoked, particularly because Section 11A(2B) of the Central Excise Act recognises closure of the matter on payment of duty and interest when suppression or misdeclaration is absent. The penalties were set aside in favour of the assessee. en-us Tue, 09 Aug 2011 00:00:00 +0530 Mon, 12 Sep 2011 16:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205825 Penalties for wrongful availment of cenvat credit were held unsustainable where the notice and lower orders contained no specific allegation of suppression, misdeclaration or intent to evade duty. The record showed that the credit was reversed and the amount was paid back promptly once the mistake was pointed out, which supported the absence of deliberate evasion. In that setting, penalty provisions could not be invoked, particularly because Section 11A(2B) of the Central Excise Act recognises closure of the matter on payment of duty and interest when suppression or misdeclaration is absent. The penalties were set aside in favour of the assessee. Case-Laws Central Excise Tue, 09 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205825