https://www.taxtmi.com/caselaws?id=252922 The appellate court upheld the penalty imposition on M/s MTC Business Pvt. Ltd. and its Director under Rule 26(2) of the Central Excise Rule, 2002. The court found that the appellant facilitated the availment of ineligible credit by providing invoices without supplying the corresponding goods, despite their claims of ignorance. The court directed the appellant to make a pre-deposit of 25% of the penalty within six weeks, with the balance penalty waived upon compliance, and recovery stayed during the appeal process. The judgment underscores the importance of due diligence in verifying transactions to avoid penalties under Central Excise Rules. en-us Thu, 06 Feb 2014 00:00:00 +0530 Fri, 07 Nov 2014 18:32:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=252922 The appellate court upheld the penalty imposition on M/s MTC Business Pvt. Ltd. and its Director under Rule 26(2) of the Central Excise Rule, 2002. The court found that the appellant facilitated the availment of ineligible credit by providing invoices without supplying the corresponding goods, despite their claims of ignorance. The court directed the appellant to make a pre-deposit of 25% of the penalty within six weeks, with the balance penalty waived upon compliance, and recovery stayed during the appeal process. The judgment underscores the importance of due diligence in verifying transactions to avoid penalties under Central Excise Rules. Case-Laws Central Excise Thu, 06 Feb 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=252922