https://www.taxtmi.com/caselaws?id=387800 The Tribunal dismissed Revenue's appeal against the dropping of a penalty under Section 11AC of the Central Excise Act, 1944 by the Commissioner(Appeals). The case centered on the respondent's reversal of the entire credit amount with interest before the notice was issued, leading to the penalty being deemed inapplicable. The Tribunal upheld this decision, citing a Karnataka High Court ruling that no penalty is warranted if credit is not utilized and duty is paid before the notice, emphasizing compliance with CENVAT credit rules and penalty implications under the Central Excise Act. en-us Tue, 06 Aug 2019 00:00:00 +0530 Fri, 01 Nov 2019 18:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=387800 The Tribunal dismissed Revenue's appeal against the dropping of a penalty under Section 11AC of the Central Excise Act, 1944 by the Commissioner(Appeals). The case centered on the respondent's reversal of the entire credit amount with interest before the notice was issued, leading to the penalty being deemed inapplicable. The Tribunal upheld this decision, citing a Karnataka High Court ruling that no penalty is warranted if credit is not utilized and duty is paid before the notice, emphasizing compliance with CENVAT credit rules and penalty implications under the Central Excise Act. Case-Laws Central Excise Tue, 06 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=387800