https://www.taxtmi.com/caselaws?id=404908 The High Court of Madras partly allowed the appeals, ruling in favor of the revenue on the reduction of penalties under Rule 15(1) of CENVAT Credit Rules, 2004 and Rule 26(2)(i) & (ii) of Central Excise Rules, 2002. However, the court ruled against the revenue on the issue of reversing ineligible CENVAT Credit, upholding the Tribunal's decision not to recover credit from one of the entities. The court found the Tribunal's reasoning for penalty reduction lacking and set aside the decision, emphasizing the need for sound reasons in discretionary powers. en-us Thu, 18 Feb 2021 00:00:00 +0530 Thu, 21 Oct 2021 15:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404908 The High Court of Madras partly allowed the appeals, ruling in favor of the revenue on the reduction of penalties under Rule 15(1) of CENVAT Credit Rules, 2004 and Rule 26(2)(i) & (ii) of Central Excise Rules, 2002. However, the court ruled against the revenue on the issue of reversing ineligible CENVAT Credit, upholding the Tribunal's decision not to recover credit from one of the entities. The court found the Tribunal's reasoning for penalty reduction lacking and set aside the decision, emphasizing the need for sound reasons in discretionary powers. Case-Laws Central Excise Thu, 18 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404908