https://www.taxtmi.com/caselaws?id=335934 The Tribunal set aside the penalty imposed under Section 11AC read with Rule 15(2) of CCR, 2004, in a case where the appellant rectified a genuine mistake of short-receipt of inputs and failure to reverse CENVAT credit promptly upon detection. Emphasizing the absence of intent to evade duty, the Tribunal referenced legal precedents to support its decision, highlighting that penalties should not be imposed in such circumstances. The judgment underscores the significance of rectifying errors promptly and the inapplicability of penalties in cases lacking an intention to evade duty. en-us Mon, 05 Dec 2016 00:00:00 +0530 Tue, 13 Dec 2016 10:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335934 The Tribunal set aside the penalty imposed under Section 11AC read with Rule 15(2) of CCR, 2004, in a case where the appellant rectified a genuine mistake of short-receipt of inputs and failure to reverse CENVAT credit promptly upon detection. Emphasizing the absence of intent to evade duty, the Tribunal referenced legal precedents to support its decision, highlighting that penalties should not be imposed in such circumstances. The judgment underscores the significance of rectifying errors promptly and the inapplicability of penalties in cases lacking an intention to evade duty. Case-Laws Central Excise Mon, 05 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335934