https://www.taxtmi.com/caselaws?id=336729 The Revenue filed an appeal challenging a penalty imposed under section 11AC of the Central Excise Act. The tribunal found no deliberate prejudice by the respondent and waived the penalty. The case involved availing non-qualifying CENVAT credit, prompting the respondent to reverse the credit promptly. The court analyzed the Capital Goods definition and determined no willful intent to evade duty, upholding the waiver of the penalty. The judgment emphasized the necessity of proving deliberate suppression of facts for penalty imposition under section 11AC, highlighting adherence to legal principles in excise law penalties. en-us Fri, 21 Oct 2016 00:00:00 +0530 Wed, 26 Jul 2017 11:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336729 The Revenue filed an appeal challenging a penalty imposed under section 11AC of the Central Excise Act. The tribunal found no deliberate prejudice by the respondent and waived the penalty. The case involved availing non-qualifying CENVAT credit, prompting the respondent to reverse the credit promptly. The court analyzed the Capital Goods definition and determined no willful intent to evade duty, upholding the waiver of the penalty. The judgment emphasized the necessity of proving deliberate suppression of facts for penalty imposition under section 11AC, highlighting adherence to legal principles in excise law penalties. Case-Laws Central Excise Fri, 21 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336729