https://www.taxtmi.com/caselaws?id=265081 A conditional exemption notification was construed strictly: although the assessee satisfied the input-credit condition, it failed the mandatory requirement that duty be paid only in cash or through account current, since payment was made by utilisation of CENVAT credit. The SC held that non-compliance with the prescribed mode of payment disentitled the assessee to the exemption. However, because the default was treated as bona fide, the Court distinguished denial of exemption from penal consequences and set aside both penalty and interest. en-us Thu, 03 Sep 2015 00:00:00 +0530 Thu, 31 Dec 2015 12:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265081 A conditional exemption notification was construed strictly: although the assessee satisfied the input-credit condition, it failed the mandatory requirement that duty be paid only in cash or through account current, since payment was made by utilisation of CENVAT credit. The SC held that non-compliance with the prescribed mode of payment disentitled the assessee to the exemption. However, because the default was treated as bona fide, the Court distinguished denial of exemption from penal consequences and set aside both penalty and interest. Case-Laws Central Excise Thu, 03 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265081