https://www.taxtmi.com/caselaws?id=387402 The Tribunal set aside the penalty imposed on the Appellants for irregularly availing and utilizing excess Cenvat Credit. Despite the Appellants rectifying the mistake by reversing the credit with interest before the show cause notice, the Adjudicating Authority demanded the amount along with interest and penalty. The Tribunal ruled in favor of the Appellants, stating that no penalty was payable as they had complied with the provisions of Section 11AC of the Central Excise Act by rectifying the error before the issuance of the show cause notice. en-us Fri, 06 Sep 2019 00:00:00 +0530 Wed, 23 Oct 2019 08:07:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387402 The Tribunal set aside the penalty imposed on the Appellants for irregularly availing and utilizing excess Cenvat Credit. Despite the Appellants rectifying the mistake by reversing the credit with interest before the show cause notice, the Adjudicating Authority demanded the amount along with interest and penalty. The Tribunal ruled in favor of the Appellants, stating that no penalty was payable as they had complied with the provisions of Section 11AC of the Central Excise Act by rectifying the error before the issuance of the show cause notice. Case-Laws Central Excise Fri, 06 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387402