https://www.taxtmi.com/caselaws?id=239666 The penalty imposed under Rule 15 (1) of the Cenvat Credit Rules, 2004, amounting to Rs.2.00 lakhs, was set aside in favor of the Appellant by the court. The court noted the retrospective amendment allowing for the reversal of proportionate cenvat credit on inputs used in exempted products, emphasizing the prohibition of penalty imposition in such cases. The Commissioner's misunderstanding of the relevant provisions during the period in question led the court to conclude that the penalty was unwarranted. As a result, the penalty was overturned, and the appeal was decided in favor of the Appellant. en-us Fri, 30 Aug 2013 00:00:00 +0530 Fri, 25 Apr 2014 12:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=239666 The penalty imposed under Rule 15 (1) of the Cenvat Credit Rules, 2004, amounting to Rs.2.00 lakhs, was set aside in favor of the Appellant by the court. The court noted the retrospective amendment allowing for the reversal of proportionate cenvat credit on inputs used in exempted products, emphasizing the prohibition of penalty imposition in such cases. The Commissioner's misunderstanding of the relevant provisions during the period in question led the court to conclude that the penalty was unwarranted. As a result, the penalty was overturned, and the appeal was decided in favor of the Appellant. Case-Laws Central Excise Fri, 30 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=239666