https://www.taxtmi.com/caselaws?id=240043 The Tribunal held that the appellant's rectification of the wrong utilization of Cenvat Credit demonstrated no deliberate default in duty payment, leading to the conclusion that Rule 8 was inapplicable. The duty demand was deemed unsustainable, and the penalty was reduced from Rs.50 lakhs to Rs.2000 under Rule 15(3) of the Cenvat Credit Rules. Consequently, the appeal was disposed of in favor of the appellant. en-us Fri, 13 Sep 2013 00:00:00 +0530 Mon, 01 Jun 2015 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240043 The Tribunal held that the appellant's rectification of the wrong utilization of Cenvat Credit demonstrated no deliberate default in duty payment, leading to the conclusion that Rule 8 was inapplicable. The duty demand was deemed unsustainable, and the penalty was reduced from Rs.50 lakhs to Rs.2000 under Rule 15(3) of the Cenvat Credit Rules. Consequently, the appeal was disposed of in favor of the appellant. Case-Laws Central Excise Fri, 13 Sep 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240043