https://www.taxtmi.com/caselaws?id=395746 Penalty for re-credit of Cenvat credit on furnace oil used as fuel was held unsustainable where the assessee acted in line with then-prevailing High Court and Tribunal views, disclosed its credit position to the Department, and later paid the confirmed duty and interest. The re-availment was treated as a bona fide adjustment made during a period of conflicting judicial authority, not as deliberate evasion or mala fide conduct. Applying the principle that penalty is not warranted when the controversy was unsettled and was later resolved by the Supreme Court, the Cenvat penalty was set aside. en-us Wed, 03 Jun 2020 00:00:00 +0530 Wed, 06 Nov 2024 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395746 Penalty for re-credit of Cenvat credit on furnace oil used as fuel was held unsustainable where the assessee acted in line with then-prevailing High Court and Tribunal views, disclosed its credit position to the Department, and later paid the confirmed duty and interest. The re-availment was treated as a bona fide adjustment made during a period of conflicting judicial authority, not as deliberate evasion or mala fide conduct. Applying the principle that penalty is not warranted when the controversy was unsettled and was later resolved by the Supreme Court, the Cenvat penalty was set aside. Case-Laws Central Excise Wed, 03 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395746