https://www.taxtmi.com/caselaws?id=270268 The Punjab and Haryana High Court, following directions, saw the Tribunal restore appeals concerning fraudulent cenvat credit availing by machinery manufacturers. The appellants, involved in transactions only on paper, faced confirmed demands and penalties. Despite disputing penalties initially, they later sought a 25% penalty reduction under section 11 AC, which was granted due to lack of actual material receipt. The reduced penalties were applied, with already paid amounts adjusted, leading to a favorable outcome for the appellants. en-us Thu, 13 Aug 2015 00:00:00 +0530 Sat, 02 Jan 2016 10:10:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270268 The Punjab and Haryana High Court, following directions, saw the Tribunal restore appeals concerning fraudulent cenvat credit availing by machinery manufacturers. The appellants, involved in transactions only on paper, faced confirmed demands and penalties. Despite disputing penalties initially, they later sought a 25% penalty reduction under section 11 AC, which was granted due to lack of actual material receipt. The reduced penalties were applied, with already paid amounts adjusted, leading to a favorable outcome for the appellants. Case-Laws Central Excise Thu, 13 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270268