https://www.taxtmi.com/caselaws?id=212946 The court upheld the penalty imposition under section 11AC of the Central Excise Act, 1944 on the appellant for availing illegal CENVAT credit. The appellant's arguments regarding transit loss, mens rea, and lack of due consideration by the authorities were considered but ultimately dismissed. The court emphasized the statutory nature of the penalty waiver provision under proviso 11AC, highlighting the appellant's failure to comply with timely payment requirements, leading to the dismissal of the appeal. en-us Fri, 30 Mar 2012 00:00:00 +0530 Tue, 08 Jan 2013 16:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212946 The court upheld the penalty imposition under section 11AC of the Central Excise Act, 1944 on the appellant for availing illegal CENVAT credit. The appellant's arguments regarding transit loss, mens rea, and lack of due consideration by the authorities were considered but ultimately dismissed. The court emphasized the statutory nature of the penalty waiver provision under proviso 11AC, highlighting the appellant's failure to comply with timely payment requirements, leading to the dismissal of the appeal. Case-Laws Central Excise Fri, 30 Mar 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212946