https://www.taxtmi.com/caselaws?id=240421 The appeal by the Revenue against the imposition of penalties under Section 11AC of the Central Excise Act and Rule 15(1) of the Cenvat Credit Rules was dismissed. The court found that the appellant had voluntarily rectified the error in availing cenvat credit, paid interest, and reversed the credit before any formal notice. As there was no intent to deceive or suppress facts, the Section 11AC penalties were deemed inapplicable. The cross-objection by the respondent was allowed as the penalty under Rule 15(1) was considered unjustified due to the voluntary rectification and absence of malafide intent. en-us Wed, 08 May 2013 00:00:00 +0530 Tue, 29 Oct 2013 15:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=240421 The appeal by the Revenue against the imposition of penalties under Section 11AC of the Central Excise Act and Rule 15(1) of the Cenvat Credit Rules was dismissed. The court found that the appellant had voluntarily rectified the error in availing cenvat credit, paid interest, and reversed the credit before any formal notice. As there was no intent to deceive or suppress facts, the Section 11AC penalties were deemed inapplicable. The cross-objection by the respondent was allowed as the penalty under Rule 15(1) was considered unjustified due to the voluntary rectification and absence of malafide intent. Case-Laws Central Excise Wed, 08 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=240421