https://www.taxtmi.com/caselaws?id=328690 The Tribunal allowed the appeals in favor of the appellants, M/s. Sundram Fasteners Ltd., in a case involving availing credit for service tax on specific services. The Tribunal held that the penalties imposed under Section 11AC of the Central Excise Act were unwarranted as there was no willful suppression of facts, and the appellants promptly rectified any misinterpretation of rules. The Tribunal emphasized that the Revenue was aware of the appellants' activities through audits and records, leading to the waiver of penalties. en-us Wed, 25 May 2016 00:00:00 +0530 Fri, 10 Jun 2016 18:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=328690 The Tribunal allowed the appeals in favor of the appellants, M/s. Sundram Fasteners Ltd., in a case involving availing credit for service tax on specific services. The Tribunal held that the penalties imposed under Section 11AC of the Central Excise Act were unwarranted as there was no willful suppression of facts, and the appellants promptly rectified any misinterpretation of rules. The Tribunal emphasized that the Revenue was aware of the appellants' activities through audits and records, leading to the waiver of penalties. Case-Laws Central Excise Wed, 25 May 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=328690