https://www.taxtmi.com/caselaws?id=358830 The Tribunal allowed the appeal, setting aside the penalty imposed by the Commissioner (Appeals) for the inadvertent availment of excess Cenvat credit on inputs. The appellant promptly reversed the excess credit upon detection, demonstrating good faith and lack of fraudulent intent. The Tribunal reduced the penalty from Rs. 2,19,697 to Rs. 50,000, considering the appellant's actions as unintentional and not indicative of deliberate wrongdoing. The decision emphasized the appellant's timely rectification of the error and cited a precedent case to support the lenient approach towards penalty imposition. en-us Wed, 31 Jan 2018 00:00:00 +0530 Fri, 20 Apr 2018 05:54:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358830 The Tribunal allowed the appeal, setting aside the penalty imposed by the Commissioner (Appeals) for the inadvertent availment of excess Cenvat credit on inputs. The appellant promptly reversed the excess credit upon detection, demonstrating good faith and lack of fraudulent intent. The Tribunal reduced the penalty from Rs. 2,19,697 to Rs. 50,000, considering the appellant's actions as unintentional and not indicative of deliberate wrongdoing. The decision emphasized the appellant's timely rectification of the error and cited a precedent case to support the lenient approach towards penalty imposition. Case-Laws Central Excise Wed, 31 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358830