https://www.taxtmi.com/caselaws?id=347163 Section 11D does not apply where duty amounts recovered from buyers have already been deposited with the Revenue, because the statutory mischief arises only when such sums are collected as duty and retained by the manufacturer; the demand was therefore unsustainable. Penalty for non-reversal of Cenvat credit on exempted clearances was also not justified where the attributable credit had been reversed with interest and the assessee acted under a bona fide belief supported by the prevailing legal position, with no mala fide intention; the penalty was therefore set aside. The impugned orders were consequently withdrawn with consequential relief. en-us Tue, 08 Aug 2017 00:00:00 +0530 Thu, 21 Sep 2017 13:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347163 Section 11D does not apply where duty amounts recovered from buyers have already been deposited with the Revenue, because the statutory mischief arises only when such sums are collected as duty and retained by the manufacturer; the demand was therefore unsustainable. Penalty for non-reversal of Cenvat credit on exempted clearances was also not justified where the attributable credit had been reversed with interest and the assessee acted under a bona fide belief supported by the prevailing legal position, with no mala fide intention; the penalty was therefore set aside. The impugned orders were consequently withdrawn with consequential relief. Case-Laws Central Excise Tue, 08 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347163