https://www.taxtmi.com/caselaws?id=246067 Penalty equal to duty under Rule 13 of the Cenvat Credit Rules, 2002 read with Section 11AC of the Central Excise Act was not sustainable because there was no material to show suppression of facts or intent to evade duty. The assessee had reversed the credit after delay on the basis of transaction value, and the Court accepted the Tribunal's finding that deliberate evasion was not established. As the statutory precondition for equal penalty was absent, Section 11AC could not be invoked. The Tribunal's deletion of penalty was therefore upheld. en-us Wed, 29 Jan 2014 00:00:00 +0530 Thu, 13 Nov 2014 10:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246067 Penalty equal to duty under Rule 13 of the Cenvat Credit Rules, 2002 read with Section 11AC of the Central Excise Act was not sustainable because there was no material to show suppression of facts or intent to evade duty. The assessee had reversed the credit after delay on the basis of transaction value, and the Court accepted the Tribunal's finding that deliberate evasion was not established. As the statutory precondition for equal penalty was absent, Section 11AC could not be invoked. The Tribunal's deletion of penalty was therefore upheld. Case-Laws Central Excise Wed, 29 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246067