https://www.taxtmi.com/caselaws?id=236662 Repeated irregular availment and reversal of Modvat/Cenvat credit before a show cause notice did not, by itself, negate penalty where the assessee's conduct showed recurring non-compliance, non-disclosure in monthly returns, and absence of bona fide. The Court held that such pre-notice reversal was not a complete defence to penalty when the factual record established a sustained pattern of default. The Tribunal therefore erred in treating reversal alone as sufficient to cancel the penalty, and the penalty was restored. en-us Thu, 27 Jun 2013 00:00:00 +0530 Mon, 10 Feb 2014 13:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236662 Repeated irregular availment and reversal of Modvat/Cenvat credit before a show cause notice did not, by itself, negate penalty where the assessee's conduct showed recurring non-compliance, non-disclosure in monthly returns, and absence of bona fide. The Court held that such pre-notice reversal was not a complete defence to penalty when the factual record established a sustained pattern of default. The Tribunal therefore erred in treating reversal alone as sufficient to cancel the penalty, and the penalty was restored. Case-Laws Central Excise Thu, 27 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236662