https://www.taxtmi.com/caselaws?id=206446 Cenvat credit taken on forged invoices issued by non-existent suppliers was treated as fraudulent availment, because the assessee failed to verify the identity and existence of the suppliers before claiming credit. That failure amounted to suppression of material facts, so the penalty had to be assessed on the established record rather than on the assessee's defence. The Tribunal held that the reduced penalty was not sustainable and restored the original penalty equal to the credit involved. en-us Mon, 25 Jul 2011 00:00:00 +0530 Thu, 31 May 2012 12:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206446 Cenvat credit taken on forged invoices issued by non-existent suppliers was treated as fraudulent availment, because the assessee failed to verify the identity and existence of the suppliers before claiming credit. That failure amounted to suppression of material facts, so the penalty had to be assessed on the established record rather than on the assessee's defence. The Tribunal held that the reduced penalty was not sustainable and restored the original penalty equal to the credit involved. Case-Laws Central Excise Mon, 25 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206446