https://www.taxtmi.com/caselaws?id=342111 The Tribunal held that the penalty imposed on the appellant under Rule 15(1) of the Cenvat Credit Rules, 2004 read with Section 11AC of the Central Excise Act, 1944 was not applicable. The Tribunal relied on a precedent from the Hon'ble Punjab & Haryana High Court, determining that penalties under Section 11AC are for duty evasion, not for cases involving the reversal of excess amounts claimed under specific rules. As a result, the penalty was set aside, and the appellant's appeal was allowed. en-us Wed, 15 Mar 2017 00:00:00 +0530 Sat, 03 Feb 2018 15:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342111 The Tribunal held that the penalty imposed on the appellant under Rule 15(1) of the Cenvat Credit Rules, 2004 read with Section 11AC of the Central Excise Act, 1944 was not applicable. The Tribunal relied on a precedent from the Hon'ble Punjab & Haryana High Court, determining that penalties under Section 11AC are for duty evasion, not for cases involving the reversal of excess amounts claimed under specific rules. As a result, the penalty was set aside, and the appellant's appeal was allowed. Case-Laws Central Excise Wed, 15 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342111