https://www.taxtmi.com/caselaws?id=409320 The Tribunal set aside the penalty imposed under section 11AC of the Central Excise Act, 1944, on the appellant for availing ineligible input service credit. The appellant's prompt reversal of credit upon notification by the department, absence of fraudulent intent, and reflection of credit in their accounts indicated no suppression of facts. Consequently, the Tribunal allowed the appeal, emphasizing the lack of evidence supporting the allegation of suppression and the appellant's compliance with reversing the credit promptly. en-us Thu, 01 Jul 2021 00:00:00 +0530 Mon, 05 Jul 2021 08:27:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409320 The Tribunal set aside the penalty imposed under section 11AC of the Central Excise Act, 1944, on the appellant for availing ineligible input service credit. The appellant's prompt reversal of credit upon notification by the department, absence of fraudulent intent, and reflection of credit in their accounts indicated no suppression of facts. Consequently, the Tribunal allowed the appeal, emphasizing the lack of evidence supporting the allegation of suppression and the appellant's compliance with reversing the credit promptly. Case-Laws Central Excise Thu, 01 Jul 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409320