https://www.taxtmi.com/caselaws?id=235860 Equal penalty was not justified where Cenvat credit on inputs from a 100% EOU was computed by applying the prescribed formula under Rule 3(7)(a) of the Cenvat Credit Rules and the dispute was confined to the correctness of the calculation. The matter turned on interpretation of the rule, not on any taking of full credit contrary to the formula. In the absence of suppression or mala fide, and where the record showed the department had accepted absence of suppression for another period, penalty under Rule 15(2) read with section 11AC was not warranted. The penalty order was therefore set aside. en-us Thu, 30 May 2013 00:00:00 +0530 Wed, 07 Aug 2013 06:55:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235860 Equal penalty was not justified where Cenvat credit on inputs from a 100% EOU was computed by applying the prescribed formula under Rule 3(7)(a) of the Cenvat Credit Rules and the dispute was confined to the correctness of the calculation. The matter turned on interpretation of the rule, not on any taking of full credit contrary to the formula. In the absence of suppression or mala fide, and where the record showed the department had accepted absence of suppression for another period, penalty under Rule 15(2) read with section 11AC was not warranted. The penalty order was therefore set aside. Case-Laws Central Excise Thu, 30 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235860