https://www.taxtmi.com/caselaws?id=348491 The Appellate Tribunal CESTAT Chennai set aside penalties imposed on appellants for availing Cenvat credit without maintaining separate accounts for dutiable and exempted goods. The Tribunal found discrepancies in credit reversal calculations, remanding the matter for verification. Penalties under Rule 15 of Cenvat Credit Rules 2004 were deemed unsustainable due to lack of evidence of fraud or willful misstatement. The appeals were allowed for remand, with penalties being set aside, and the matter disposed of accordingly. en-us Mon, 31 Jul 2017 00:00:00 +0530 Thu, 12 Oct 2017 12:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348491 The Appellate Tribunal CESTAT Chennai set aside penalties imposed on appellants for availing Cenvat credit without maintaining separate accounts for dutiable and exempted goods. The Tribunal found discrepancies in credit reversal calculations, remanding the matter for verification. Penalties under Rule 15 of Cenvat Credit Rules 2004 were deemed unsustainable due to lack of evidence of fraud or willful misstatement. The appeals were allowed for remand, with penalties being set aside, and the matter disposed of accordingly. Case-Laws Central Excise Mon, 31 Jul 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348491