https://www.taxtmi.com/caselaws?id=348860 Rule 14 of the Cenvat Credit Rules, 2004 applies only where credit has been wrongly taken and utilised, or has been erroneously refunded. Where inputs were removed as such on payment of duty on transaction value through debit in the Cenvat account, and the admissibility of the original credit was not in dispute, recovery under Rule 14 read with Section 11D of the Central Excise Act, 1944 was not sustainable. The article also notes that the assessee's approach was consistent with a bona fide belief on the duty discharge method. On that basis, the demand and penalties were held unsustainable and the appeal was allowed. en-us Wed, 27 Sep 2017 00:00:00 +0530 Tue, 03 Oct 2017 06:30:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=348860 Rule 14 of the Cenvat Credit Rules, 2004 applies only where credit has been wrongly taken and utilised, or has been erroneously refunded. Where inputs were removed as such on payment of duty on transaction value through debit in the Cenvat account, and the admissibility of the original credit was not in dispute, recovery under Rule 14 read with Section 11D of the Central Excise Act, 1944 was not sustainable. The article also notes that the assessee's approach was consistent with a bona fide belief on the duty discharge method. On that basis, the demand and penalties were held unsustainable and the appeal was allowed. Case-Laws Central Excise Wed, 27 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=348860