https://www.taxtmi.com/caselaws?id=268149 Penalty under Section 11AC of the Central Excise Act was held inapplicable where the assessee reversed the credit belatedly, paid the CVD component later with interest, and the record showed no fraud, collusion, wilful misstatement, suppression of facts, or intent to evade duty. The High Court noted that the goods were cleared to a sister unit and that the essential ingredients for penal liability were absent, so interference with the Tribunal's view was not warranted. The departmental appeal therefore failed and the assessee succeeded. en-us Mon, 17 Aug 2015 00:00:00 +0530 Fri, 08 Jan 2016 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268149 Penalty under Section 11AC of the Central Excise Act was held inapplicable where the assessee reversed the credit belatedly, paid the CVD component later with interest, and the record showed no fraud, collusion, wilful misstatement, suppression of facts, or intent to evade duty. The High Court noted that the goods were cleared to a sister unit and that the essential ingredients for penal liability were absent, so interference with the Tribunal's view was not warranted. The departmental appeal therefore failed and the assessee succeeded. Case-Laws Central Excise Mon, 17 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268149