https://www.taxtmi.com/caselaws?id=214426 Excess CENVAT credit reversed after audit pointed out the error, without any allegation or proof of mala fides, did not justify penalty. The notice under Rule 14 of the CENVAT Credit Rules, 2004 read with Section 11AB of the Finance Act, 1994 was insufficient to sustain penal action where the inadmissible credit was voluntarily corrected, so the penalty was set aside. Interest liability, however, had already been discharged and was left undisturbed, so no interference was made on that component. en-us Thu, 12 Apr 2012 00:00:00 +0530 Tue, 26 Feb 2013 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=214426 Excess CENVAT credit reversed after audit pointed out the error, without any allegation or proof of mala fides, did not justify penalty. The notice under Rule 14 of the CENVAT Credit Rules, 2004 read with Section 11AB of the Finance Act, 1994 was insufficient to sustain penal action where the inadmissible credit was voluntarily corrected, so the penalty was set aside. Interest liability, however, had already been discharged and was left undisturbed, so no interference was made on that component. Case-Laws Central Excise Thu, 12 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=214426