https://www.taxtmi.com/caselaws?id=384485 The Tribunal set aside the penalty of Rs. 5,00,000 imposed on M/s. Tide Water Oil Co. (India) Ltd. for alleged wrong availment of Cenvat Credit, citing lack of fraud or suppression. Additionally, the interest of Rs. 10,74,459 under Section 11AA of the Central Excise Act, 1944, was also deemed unsustainable due to sufficient credit balance and no loss to the exchequer. Both the penalty and interest were overturned, granting the appellant consequential benefits. en-us Tue, 13 Aug 2019 00:00:00 +0530 Fri, 16 Aug 2019 07:48:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384485 The Tribunal set aside the penalty of Rs. 5,00,000 imposed on M/s. Tide Water Oil Co. (India) Ltd. for alleged wrong availment of Cenvat Credit, citing lack of fraud or suppression. Additionally, the interest of Rs. 10,74,459 under Section 11AA of the Central Excise Act, 1944, was also deemed unsustainable due to sufficient credit balance and no loss to the exchequer. Both the penalty and interest were overturned, granting the appellant consequential benefits. Case-Laws Central Excise Tue, 13 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384485