https://www.taxtmi.com/caselaws?id=265960 The appellant contested the demand of interest and penalty for not maintaining separate accounts for dutiable and exempted final products, as well as the denial of Cenvat Credit availed twice. The tribunal upheld the demand of interest but reduced the penalty to 25% of the duty involved. The appellant's arguments regarding the sufficiency of the Cenvat Credit balance and a bonafide belief were rejected, emphasizing the obligation to pay 10% of the value of exempted goods and the rightful imposition of the penalty under section 11AC. The appeal was partly allowed, setting aside the demand and interest but upholding the penalty due to clear payment obligations for exempted goods. en-us Wed, 24 Jun 2015 00:00:00 +0530 Sat, 17 Oct 2015 21:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265960 The appellant contested the demand of interest and penalty for not maintaining separate accounts for dutiable and exempted final products, as well as the denial of Cenvat Credit availed twice. The tribunal upheld the demand of interest but reduced the penalty to 25% of the duty involved. The appellant's arguments regarding the sufficiency of the Cenvat Credit balance and a bonafide belief were rejected, emphasizing the obligation to pay 10% of the value of exempted goods and the rightful imposition of the penalty under section 11AC. The appeal was partly allowed, setting aside the demand and interest but upholding the penalty due to clear payment obligations for exempted goods. Case-Laws Central Excise Wed, 24 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265960