https://www.taxtmi.com/caselaws?id=263530 Penalty for wrongful availment of CENVAT credit on gas cylinders was held not to attract the stringent regime under Rule 13(2) read with Section 11AC because the credit had been taken openly and the material facts were disclosed to the Department. In the absence of suppression, fraud, wilful misstatement, collusion, or intent to evade duty, the matter fell only within Rule 13(1) for mere contravention. The penalty was therefore confined to the statutory maximum of Rs. 10,000, and the harsher equivalent penalty was set aside. en-us Fri, 07 Aug 2015 00:00:00 +0530 Fri, 04 Sep 2015 07:53:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=263530 Penalty for wrongful availment of CENVAT credit on gas cylinders was held not to attract the stringent regime under Rule 13(2) read with Section 11AC because the credit had been taken openly and the material facts were disclosed to the Department. In the absence of suppression, fraud, wilful misstatement, collusion, or intent to evade duty, the matter fell only within Rule 13(1) for mere contravention. The penalty was therefore confined to the statutory maximum of Rs. 10,000, and the harsher equivalent penalty was set aside. Case-Laws Central Excise Fri, 07 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=263530