https://www.taxtmi.com/caselaws?id=332577 The Tribunal ruled in favor of the appellants, finding that the penalty under Section 11 AC of the Central Excise Act was not applicable as they had promptly rectified the irregularity by reversing the CENVAT credit and paying interest before the show cause notice was issued. The Tribunal held that there was no basis for the penalty, concluding that the appellants' actions aligned with Section 11 A(2B) requirements. Consequently, the penalty imposed was deemed unsustainable, and the order was modified in favor of the appellants. en-us Mon, 22 Aug 2016 00:00:00 +0530 Tue, 20 Sep 2016 10:07:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332577 The Tribunal ruled in favor of the appellants, finding that the penalty under Section 11 AC of the Central Excise Act was not applicable as they had promptly rectified the irregularity by reversing the CENVAT credit and paying interest before the show cause notice was issued. The Tribunal held that there was no basis for the penalty, concluding that the appellants' actions aligned with Section 11 A(2B) requirements. Consequently, the penalty imposed was deemed unsustainable, and the order was modified in favor of the appellants. Case-Laws Central Excise Mon, 22 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332577