https://www.taxtmi.com/caselaws?id=176771 The appellant availed credit on inputs for manufacturing both dutiable and exempted goods without proper procedures. Despite immediate reversal of credit and payment of interest upon notification by the Revenue, a penalty was imposed. The Commissioner relied on precedent mandating penalties for such contraventions. The main issue was the appellant's intent, argued to be non-malafide due to ignorance of the law and immediate rectification. The Judicial Member agreed, setting aside the penalty as the appellant promptly rectified the error, with the interest payment considered sufficient penalty. The appeal was allowed with consequential relief. en-us Fri, 29 May 2015 00:00:00 +0530 Thu, 04 Feb 2016 17:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176771 The appellant availed credit on inputs for manufacturing both dutiable and exempted goods without proper procedures. Despite immediate reversal of credit and payment of interest upon notification by the Revenue, a penalty was imposed. The Commissioner relied on precedent mandating penalties for such contraventions. The main issue was the appellant's intent, argued to be non-malafide due to ignorance of the law and immediate rectification. The Judicial Member agreed, setting aside the penalty as the appellant promptly rectified the error, with the interest payment considered sufficient penalty. The appeal was allowed with consequential relief. Case-Laws Central Excise Fri, 29 May 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176771