https://www.taxtmi.com/caselaws?id=346043 Interest on wrongly availed Cenvat credit is stated to be recoverable only within the prescribed limitation period, and where the show cause notice contains no allegation of suppression or other facts needed to invoke the extended period, the demand is unsustainable. Penalty under Section 11AC of the Central Excise Act, 1944 read with Rule 15 of the Cenvat Credit Rules, 2004 is also said to require specific allegations of suppression, fraud or wilful misstatement; in their absence, mandatory penalty cannot be imposed. The text further notes that an order combining Section 11AC with a reduced penalty is internally inconsistent. en-us Mon, 31 Jul 2017 00:00:00 +0530 Thu, 03 Aug 2017 07:16:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346043 Interest on wrongly availed Cenvat credit is stated to be recoverable only within the prescribed limitation period, and where the show cause notice contains no allegation of suppression or other facts needed to invoke the extended period, the demand is unsustainable. Penalty under Section 11AC of the Central Excise Act, 1944 read with Rule 15 of the Cenvat Credit Rules, 2004 is also said to require specific allegations of suppression, fraud or wilful misstatement; in their absence, mandatory penalty cannot be imposed. The text further notes that an order combining Section 11AC with a reduced penalty is internally inconsistent. Case-Laws Central Excise Mon, 31 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346043