https://www.taxtmi.com/caselaws?id=404641 Penalty under Rule 15(2) of the Cenvat Credit Rules, 2004 read with Section 11AC of the Central Excise Act was held unwarranted where the assessee's explanation for the disputed Cenvat credit was found cogent and was not disproved in adjudication. The text notes that the credit was taken on an input used in manufacturing HSD, and that payment of duty on the finished product can amount to reversal of the input credit. On those facts, the stricter penal provision was not attracted and the Revenue's challenge failed. en-us Tue, 09 Feb 2021 00:00:00 +0530 Sat, 27 Feb 2021 11:26:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404641 Penalty under Rule 15(2) of the Cenvat Credit Rules, 2004 read with Section 11AC of the Central Excise Act was held unwarranted where the assessee's explanation for the disputed Cenvat credit was found cogent and was not disproved in adjudication. The text notes that the credit was taken on an input used in manufacturing HSD, and that payment of duty on the finished product can amount to reversal of the input credit. On those facts, the stricter penal provision was not attracted and the Revenue's challenge failed. Case-Laws Central Excise Tue, 09 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404641