https://www.taxtmi.com/caselaws?id=237806 The tribunal upheld the penalty under Section 11AC of the Central Excise Act against the appellant for failing to reverse CENVAT credit upon transferring capital goods. Despite the appellant's claims of revenue-neutrality and lack of intent to benefit improperly, the tribunal found the penalty justified, emphasizing the appellant's admission of liability by paying the credit amount and interest. The tribunal also noted the appellant's failure to contest the demand on the grounds of limitation, indicating acceptance of the allegation of suppression. Consequently, the appeal was dismissed. en-us Mon, 05 Nov 2012 00:00:00 +0530 Wed, 09 Oct 2013 05:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237806 The tribunal upheld the penalty under Section 11AC of the Central Excise Act against the appellant for failing to reverse CENVAT credit upon transferring capital goods. Despite the appellant's claims of revenue-neutrality and lack of intent to benefit improperly, the tribunal found the penalty justified, emphasizing the appellant's admission of liability by paying the credit amount and interest. The tribunal also noted the appellant's failure to contest the demand on the grounds of limitation, indicating acceptance of the allegation of suppression. Consequently, the appeal was dismissed. Case-Laws Central Excise Mon, 05 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237806