https://www.taxtmi.com/caselaws?id=212141 Wrong availment of CENVAT credit remained penal in nature where the governing excise rule did not distinguish between deliberate misconduct and bona fide mistake, and later reversal of the related depreciation claim did not erase the original infraction. The earlier decisions cited were treated as inapplicable, so liability to penalty was sustained. However, the assessee's size, the duty position, the absence of intent, and prompt corrective steps after detection were treated as mitigating factors. On that basis, the penalty was moderated as excessive and reduced to a nominal amount. en-us Wed, 13 Apr 2011 00:00:00 +0530 Fri, 01 Nov 2013 17:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212141 Wrong availment of CENVAT credit remained penal in nature where the governing excise rule did not distinguish between deliberate misconduct and bona fide mistake, and later reversal of the related depreciation claim did not erase the original infraction. The earlier decisions cited were treated as inapplicable, so liability to penalty was sustained. However, the assessee's size, the duty position, the absence of intent, and prompt corrective steps after detection were treated as mitigating factors. On that basis, the penalty was moderated as excessive and reduced to a nominal amount. Case-Laws Central Excise Wed, 13 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212141