https://www.taxtmi.com/caselaws?id=431232 The Tribunal set aside the penalty imposed under Section 11AC, as the appellant had reversed the disputed amount of Rs.2,07,598 and paid the penalty before the show cause notice was issued. The Tribunal held that since the credit was not utilized, the appellant was not liable for interest and penalty on this amount. Consequently, the penalty under Section 11AC was deemed not applicable to the disputed amount, resulting in the appeal being allowed with consequential relief. en-us Tue, 23 Aug 2022 00:00:00 +0530 Thu, 08 Dec 2022 11:48:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431232 The Tribunal set aside the penalty imposed under Section 11AC, as the appellant had reversed the disputed amount of Rs.2,07,598 and paid the penalty before the show cause notice was issued. The Tribunal held that since the credit was not utilized, the appellant was not liable for interest and penalty on this amount. Consequently, the penalty under Section 11AC was deemed not applicable to the disputed amount, resulting in the appeal being allowed with consequential relief. Case-Laws Central Excise Tue, 23 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431232