https://www.taxtmi.com/caselaws?id=269638 The Appellate Tribunal CESTAT AHMEDABAD upheld the decision to disallow the appellant's suo-moto credit of &8377; 26 Crores, citing Rule 14 of Cenvat Credit Rules, 2004 and Section 11A (i) of the Central Excise Act, 1944. The penalty imposed was reduced from &8377; 7 Crore to &8377; 10,00,000, while interest demand was set aside. The tribunal emphasized the need for following statutory refund procedures and obtaining departmental sanction for correcting accounts, in line with legal principles established in relevant case laws. en-us Tue, 08 Dec 2015 00:00:00 +0530 Sat, 11 Nov 2017 13:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269638 The Appellate Tribunal CESTAT AHMEDABAD upheld the decision to disallow the appellant's suo-moto credit of &8377; 26 Crores, citing Rule 14 of Cenvat Credit Rules, 2004 and Section 11A (i) of the Central Excise Act, 1944. The penalty imposed was reduced from &8377; 7 Crore to &8377; 10,00,000, while interest demand was set aside. The tribunal emphasized the need for following statutory refund procedures and obtaining departmental sanction for correcting accounts, in line with legal principles established in relevant case laws. Case-Laws Central Excise Tue, 08 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269638