https://www.taxtmi.com/caselaws?id=215820 The penalty imposed under Section 11AC of the Central Excise Act, 1944 for wrong availment of 100% Cenvat Credit on capital goods in July 2008 was set aside. The court found that although the appellants had mistakenly availed 100% credit instead of the entitled 50%, there was no intention to evade duty as evidenced by a sufficient Cenvat credit balance. The judge concluded that the penalty was unwarranted due to the absence of intent to contravene Section 11AC, leading to the appeal being allowed. en-us Fri, 13 Jul 2012 00:00:00 +0530 Tue, 31 Dec 2013 18:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215820 The penalty imposed under Section 11AC of the Central Excise Act, 1944 for wrong availment of 100% Cenvat Credit on capital goods in July 2008 was set aside. The court found that although the appellants had mistakenly availed 100% credit instead of the entitled 50%, there was no intention to evade duty as evidenced by a sufficient Cenvat credit balance. The judge concluded that the penalty was unwarranted due to the absence of intent to contravene Section 11AC, leading to the appeal being allowed. Case-Laws Central Excise Fri, 13 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215820