https://www.taxtmi.com/caselaws?id=327859 The Tribunal set aside the penalty imposed on the appellant under Rule 15(2) of the CENVAT Credit Rules, 2004 read with Section 11AC of the Central Excise Act, 1944. The decision was based on the appellant's transparent conduct, timely reversal of a percentage of the value of exempted goods, payment of interest, and compliance with reporting requirements, indicating no intention to evade duty. Compliance and transparency in dealings were highlighted as crucial to avoid penalties for inadvertent errors or omissions. en-us Wed, 04 May 2016 00:00:00 +0530 Wed, 21 Dec 2016 15:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327859 The Tribunal set aside the penalty imposed on the appellant under Rule 15(2) of the CENVAT Credit Rules, 2004 read with Section 11AC of the Central Excise Act, 1944. The decision was based on the appellant's transparent conduct, timely reversal of a percentage of the value of exempted goods, payment of interest, and compliance with reporting requirements, indicating no intention to evade duty. Compliance and transparency in dealings were highlighted as crucial to avoid penalties for inadvertent errors or omissions. Case-Laws Central Excise Wed, 04 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327859