https://www.taxtmi.com/caselaws?id=209741 Penalty under Rule 13(2) read with Section 11AC was held unsustainable where CVD credit was voluntarily reversed with interest before the show cause notice. The assessee had reflected the availment in returns, and the reversal on its own correction did not, on the facts, establish deliberate wrongdoing or mala fide intent. As no fraudulent or contumacious conduct was shown, the penal levy was set aside, while the duty and interest remained payable. en-us Tue, 01 Nov 2011 00:00:00 +0530 Wed, 07 Aug 2013 11:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209741 Penalty under Rule 13(2) read with Section 11AC was held unsustainable where CVD credit was voluntarily reversed with interest before the show cause notice. The assessee had reflected the availment in returns, and the reversal on its own correction did not, on the facts, establish deliberate wrongdoing or mala fide intent. As no fraudulent or contumacious conduct was shown, the penal levy was set aside, while the duty and interest remained payable. Case-Laws Central Excise Tue, 01 Nov 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209741