https://www.taxtmi.com/caselaws?id=789875 Penalty under Rule 15(2) of the CENVAT Credit Rules, 2004 read with Section 11AC of the Central Excise Act, 1944 was held unsustainable because the assessee reversed the irregularly availed CENVAT credit after it was pointed out, paid the applicable interest before adjudication, and had regularly disclosed the credit in returns. The record did not establish wilful suppression of facts or intent to evade duty, and those essential ingredients for penalty were therefore absent. The penalty order was set aside in favour of the assessee. en-us Thu, 26 Feb 2026 00:00:00 +0530 Thu, 16 Apr 2026 08:34:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789875 Penalty under Rule 15(2) of the CENVAT Credit Rules, 2004 read with Section 11AC of the Central Excise Act, 1944 was held unsustainable because the assessee reversed the irregularly availed CENVAT credit after it was pointed out, paid the applicable interest before adjudication, and had regularly disclosed the credit in returns. The record did not establish wilful suppression of facts or intent to evade duty, and those essential ingredients for penalty were therefore absent. The penalty order was set aside in favour of the assessee. Case-Laws Central Excise Thu, 26 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789875