https://www.taxtmi.com/caselaws?id=377673 Penalty under Rule 15 of the CENVAT Credit Rules, 2004 read with Section 11AC of the Central Excise Act, 1944 is not sustainable where wrongly availed credit is reversed with interest before issuance of the show-cause notice and the record shows no suppression of facts with intent to evade duty. The assessee informed the Department that the credit had been taken by mistake, and the reversal was made immediately after the audit objection. In these circumstances, and following tribunal precedent, penalty was set aside. en-us Wed, 06 Mar 2019 00:00:00 +0530 Tue, 02 Apr 2019 07:28:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377673 Penalty under Rule 15 of the CENVAT Credit Rules, 2004 read with Section 11AC of the Central Excise Act, 1944 is not sustainable where wrongly availed credit is reversed with interest before issuance of the show-cause notice and the record shows no suppression of facts with intent to evade duty. The assessee informed the Department that the credit had been taken by mistake, and the reversal was made immediately after the audit objection. In these circumstances, and following tribunal precedent, penalty was set aside. Case-Laws Central Excise Wed, 06 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377673