https://www.taxtmi.com/caselaws?id=339661 The Tribunal held that the penalty imposed on the appellants for availing excess credit under Rule 3(7)(a) of CENVAT Credit Rules, 2004, was unwarranted due to the absence of wilful suppression of facts. The Tribunal found that the excess credit was unintentional, promptly reversed by the appellants upon notification, and resulted from genuine confusion over the formulae application. Consequently, the penalty under section 11AC of the Central Excise Act was set aside, and the show cause notice invoking the extended period was deemed unsustainable. The appeal was allowed in favor of the appellants with consequential reliefs. en-us Wed, 04 Jan 2017 00:00:00 +0530 Sat, 04 Mar 2017 15:06:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339661 The Tribunal held that the penalty imposed on the appellants for availing excess credit under Rule 3(7)(a) of CENVAT Credit Rules, 2004, was unwarranted due to the absence of wilful suppression of facts. The Tribunal found that the excess credit was unintentional, promptly reversed by the appellants upon notification, and resulted from genuine confusion over the formulae application. Consequently, the penalty under section 11AC of the Central Excise Act was set aside, and the show cause notice invoking the extended period was deemed unsustainable. The appeal was allowed in favor of the appellants with consequential reliefs. Case-Laws Central Excise Wed, 04 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339661