https://www.taxtmi.com/caselaws?id=340358 The tribunal set aside the penalties imposed on the appellant under Rule 15(2) of the Cenvat Credit Rules, 2004. It found the appellant's mistake in availing cenvat credit to be bonafide, noting the absence of specific allegations of malafide intent. As the appellant rectified the error by reversing the credit with interest before adjudication, the tribunal ruled the penalties as not imposable. The judgment underscores the necessity of verifying eligibility criteria for exemptions and credits to prevent penalties, ultimately ruling in favor of the appellant. en-us Wed, 01 Feb 2017 00:00:00 +0530 Wed, 23 Aug 2017 18:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340358 The tribunal set aside the penalties imposed on the appellant under Rule 15(2) of the Cenvat Credit Rules, 2004. It found the appellant's mistake in availing cenvat credit to be bonafide, noting the absence of specific allegations of malafide intent. As the appellant rectified the error by reversing the credit with interest before adjudication, the tribunal ruled the penalties as not imposable. The judgment underscores the necessity of verifying eligibility criteria for exemptions and credits to prevent penalties, ultimately ruling in favor of the appellant. Case-Laws Central Excise Wed, 01 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340358