https://www.taxtmi.com/caselaws?id=212809 The Tribunal set aside the penalty imposed on a Multi-national Company for wrongly availing cenvat credit due to a clerk's absence, as the irregular credit was not utilized and the balance remained above it. The Tribunal accepted the appellant's claim of a bona fide mistake and emphasized that penalty imposition was unwarranted in the absence of intentional wrongdoing. The judgment underscores the significance of verifying claims and establishing intent before imposing penalties based on suppression or mis-declaration in cases of irregular credit availing. en-us Fri, 24 Jun 2011 00:00:00 +0530 Wed, 25 Apr 2012 18:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212809 The Tribunal set aside the penalty imposed on a Multi-national Company for wrongly availing cenvat credit due to a clerk's absence, as the irregular credit was not utilized and the balance remained above it. The Tribunal accepted the appellant's claim of a bona fide mistake and emphasized that penalty imposition was unwarranted in the absence of intentional wrongdoing. The judgment underscores the significance of verifying claims and establishing intent before imposing penalties based on suppression or mis-declaration in cases of irregular credit availing. Case-Laws Central Excise Fri, 24 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212809