https://www.taxtmi.com/caselaws?id=246281 The Appellate Tribunal CESTAT AHMEDABAD set aside the penalty imposed under Section 11AC of the Central Excise Act, 1944, as the appellant promptly rectified the excess availment of Cenvat credit upon self-discovery and audit findings. The tribunal acknowledged the appellant's proactive approach in reversing the wrongly utilized credit amounts, indicating no intent to evade duty. Emphasizing compliance and rectification over punitive measures, the tribunal highlighted the importance of self-correction and cooperation with audit findings in cases of inadvertent errors in availing Cenvat credit. en-us Tue, 25 Oct 2011 00:00:00 +0530 Sun, 20 Apr 2014 15:49:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246281 The Appellate Tribunal CESTAT AHMEDABAD set aside the penalty imposed under Section 11AC of the Central Excise Act, 1944, as the appellant promptly rectified the excess availment of Cenvat credit upon self-discovery and audit findings. The tribunal acknowledged the appellant's proactive approach in reversing the wrongly utilized credit amounts, indicating no intent to evade duty. Emphasizing compliance and rectification over punitive measures, the tribunal highlighted the importance of self-correction and cooperation with audit findings in cases of inadvertent errors in availing Cenvat credit. Case-Laws Central Excise Tue, 25 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246281