Penalty Not Applicable for Good Faith Non-Reversal of Credit on Capital Goods Removal u/s 11AC and Rule 15. https://www.taxtmi.com/highlights?id=33496 The appellant under the bonafide impression did not reverse the credit after due intimation of removal of the capital goods to the Dept. In these circumstances, penalty u/s 11AC of CEA,1944 read with Rule 15 of CCR,2004 is not attracted - AT en-us Tue, 28 Feb 2017 11:41:50 +0530 Tue, 28 Feb 2017 11:41:50 +0530 TaxTMI RSS Generator Penalty Not Applicable for Good Faith Non-Reversal of Credit on Capital Goods Removal u/s 11AC and Rule 15. https://www.taxtmi.com/highlights?id=33496 The appellant under the bonafide impression did not reverse the credit after due intimation of removal of the capital goods to the Dept. In these circumstances, penalty u/s 11AC of CEA,1944 read with Rule 15 of CCR,2004 is not attracted - AT Highlights Central Excise Tue, 28 Feb 2017 11:41:50 +0530 https://www.taxtmi.com/highlights?id=33496