https://www.taxtmi.com/caselaws?id=339915 The Tribunal set aside penalties and demand confirmation in appeals arising from a common Order-in-Original concerning the reversal of Cenvat credit on components used in manufacturing passenger cars. The Tribunal found the exercise revenue-neutral, negating penalty imposition under Cenvat Credit Rules, 2004. It ruled that clearances of inputs as such, on which Cenvat credit was availed, do not constitute trading activities, leading to the quashing of penalties and demand confirmation. The Order-in-Original was partially set aside, granting relief to the appellants and dismissing penalties on the General Manager. en-us Thu, 19 Jan 2017 00:00:00 +0530 Thu, 09 Mar 2017 10:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339915 The Tribunal set aside penalties and demand confirmation in appeals arising from a common Order-in-Original concerning the reversal of Cenvat credit on components used in manufacturing passenger cars. The Tribunal found the exercise revenue-neutral, negating penalty imposition under Cenvat Credit Rules, 2004. It ruled that clearances of inputs as such, on which Cenvat credit was availed, do not constitute trading activities, leading to the quashing of penalties and demand confirmation. The Order-in-Original was partially set aside, granting relief to the appellants and dismissing penalties on the General Manager. Case-Laws Central Excise Thu, 19 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339915