https://www.taxtmi.com/caselaws?id=241778 The court confirmed 50% Cenvat credit against the appellant with interest and penalty for availing 100% credit in the first year instead of the prescribed 50%. However, as the balance 50% credit was available in the subsequent year, the demand for duty was not upheld based solely on timing. The appellant was held liable for interest on the excess credit but was not penalized due to the absence of mala fide intent in availing the excess credit. Precedents supported setting aside the penalty, emphasizing the importance of statutory compliance in penalty considerations. en-us Thu, 19 May 2011 00:00:00 +0530 Wed, 01 Jan 2014 12:49:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=241778 The court confirmed 50% Cenvat credit against the appellant with interest and penalty for availing 100% credit in the first year instead of the prescribed 50%. However, as the balance 50% credit was available in the subsequent year, the demand for duty was not upheld based solely on timing. The appellant was held liable for interest on the excess credit but was not penalized due to the absence of mala fide intent in availing the excess credit. Precedents supported setting aside the penalty, emphasizing the importance of statutory compliance in penalty considerations. Case-Laws Central Excise Thu, 19 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=241778