https://www.taxtmi.com/caselaws?id=339722 The High Court dismissed both appeals and affirmed the CESTAT's decision concerning penalty imposition under Section 11AC and the applicability of Rule 8(3A) on cenvat credit, following a precedent set by the Gujarat High Court. The court upheld the reduction in duty liability and penalty amount for the respondent, rejecting the Revenue's argument for a higher penalty due to deliberate tax withholding. The decision granted relief to the assessee, emphasizing the interpretation of Section 11AC and the impact of the Gujarat High Court ruling on the case outcome. en-us Fri, 04 Nov 2016 00:00:00 +0530 Mon, 06 Mar 2017 12:09:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339722 The High Court dismissed both appeals and affirmed the CESTAT's decision concerning penalty imposition under Section 11AC and the applicability of Rule 8(3A) on cenvat credit, following a precedent set by the Gujarat High Court. The court upheld the reduction in duty liability and penalty amount for the respondent, rejecting the Revenue's argument for a higher penalty due to deliberate tax withholding. The decision granted relief to the assessee, emphasizing the interpretation of Section 11AC and the impact of the Gujarat High Court ruling on the case outcome. Case-Laws Central Excise Fri, 04 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339722