https://www.taxtmi.com/caselaws?id=366269 Wrongful availment of CENVAT credit in respect of exempted clearances justified imposition of penalty because the irregular credit was not permitted under the applicable regime, even though liability had been discharged later. The penalty was sustained in principle, but the quantum was found excessive on the facts and was reduced in light of the surrounding circumstances and the amount already paid. Partial relief was therefore granted by moderating the penalty while preserving the penal consequence for unauthorised credit availment. en-us Wed, 11 Apr 2018 00:00:00 +0530 Sat, 01 Sep 2018 06:05:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366269 Wrongful availment of CENVAT credit in respect of exempted clearances justified imposition of penalty because the irregular credit was not permitted under the applicable regime, even though liability had been discharged later. The penalty was sustained in principle, but the quantum was found excessive on the facts and was reduced in light of the surrounding circumstances and the amount already paid. Partial relief was therefore granted by moderating the penalty while preserving the penal consequence for unauthorised credit availment. Case-Laws Central Excise Wed, 11 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366269