https://www.taxtmi.com/caselaws?id=271363 The Tribunal ruled in favor of the appellant, setting aside the penalty imposed under Rule 15(2) of the Cenvat Credit Rules read with Section 11AC of the Central Excise Act. The Tribunal held that the penalty imposition lacked specificity on the requirements of Section 11AC and that the absence of clear findings on fraud or suppression of facts rendered the penalty incorrect. Citing a judgment of the High Court of Punjab & Haryana, the Tribunal allowed the appeal, emphasizing the need for specific allegations to justify penalty imposition in such cases. en-us Tue, 12 Jan 2016 00:00:00 +0530 Sat, 01 Oct 2016 14:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271363 The Tribunal ruled in favor of the appellant, setting aside the penalty imposed under Rule 15(2) of the Cenvat Credit Rules read with Section 11AC of the Central Excise Act. The Tribunal held that the penalty imposition lacked specificity on the requirements of Section 11AC and that the absence of clear findings on fraud or suppression of facts rendered the penalty incorrect. Citing a judgment of the High Court of Punjab & Haryana, the Tribunal allowed the appeal, emphasizing the need for specific allegations to justify penalty imposition in such cases. Case-Laws Central Excise Tue, 12 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271363