https://www.taxtmi.com/caselaws?id=337209 The Tribunal upheld the demand for duty equal to the availed credit on inputs used in manufacturing exempted final products, penalty under Section 11AC of the Act, and the chargeability of interest. The appellant's failure to comply with exemption conditions and timely reversal of credit constituted suppression of fact, justifying the confirmed demand. Despite arguments for penalty waiver due to prior duty payment, the Tribunal emphasized the mandatory nature of penal provisions. The appeal was dismissed, with the Tribunal citing legal precedents and provisions in support of its decision. en-us Fri, 28 Oct 2016 00:00:00 +0530 Thu, 05 Jan 2017 09:11:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337209 The Tribunal upheld the demand for duty equal to the availed credit on inputs used in manufacturing exempted final products, penalty under Section 11AC of the Act, and the chargeability of interest. The appellant's failure to comply with exemption conditions and timely reversal of credit constituted suppression of fact, justifying the confirmed demand. Despite arguments for penalty waiver due to prior duty payment, the Tribunal emphasized the mandatory nature of penal provisions. The appeal was dismissed, with the Tribunal citing legal precedents and provisions in support of its decision. Case-Laws Central Excise Fri, 28 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337209