https://www.taxtmi.com/caselaws?id=339860 Penalty under the CENVAT credit regime could not be sustained where the solvents had deteriorated, were unfit for manufacture, and were cleared as spent solvents after payment of duty and interest. The record did not establish suppression of facts or wilful misstatement, so the ingredients for penal action were absent. The penalty was therefore set aside, while the duty demand and interest remained undisturbed, resulting in partial relief to the assessee. en-us Tue, 24 Jan 2017 00:00:00 +0530 Wed, 08 Mar 2017 08:46:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339860 Penalty under the CENVAT credit regime could not be sustained where the solvents had deteriorated, were unfit for manufacture, and were cleared as spent solvents after payment of duty and interest. The record did not establish suppression of facts or wilful misstatement, so the ingredients for penal action were absent. The penalty was therefore set aside, while the duty demand and interest remained undisturbed, resulting in partial relief to the assessee. Case-Laws Central Excise Tue, 24 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339860