https://www.taxtmi.com/caselaws?id=188008 Penalty was held unsustainable where wrongly availed credit had been reversed with interest before issuance of the show cause notice, and the lapse was found to be a bona fide procedural error without mala fide intent. The adjudicatory finding accepted that the omission arose from lack of communication and not from any attempt to derive undue advantage. The appellate authority relied on precedent supporting the view that penalty is not justified in such circumstances, while the Revenue's cited decisions were treated as inapplicable. On that basis, the assessee succeeded on the penalty issue. en-us Fri, 28 Jul 2006 00:00:00 +0530 Tue, 15 Nov 2016 17:49:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188008 Penalty was held unsustainable where wrongly availed credit had been reversed with interest before issuance of the show cause notice, and the lapse was found to be a bona fide procedural error without mala fide intent. The adjudicatory finding accepted that the omission arose from lack of communication and not from any attempt to derive undue advantage. The appellate authority relied on precedent supporting the view that penalty is not justified in such circumstances, while the Revenue's cited decisions were treated as inapplicable. On that basis, the assessee succeeded on the penalty issue. Case-Laws Central Excise Fri, 28 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188008