https://www.taxtmi.com/caselaws?id=469032 Wrong Cenvat credit reversed with interest did not justify equal penalty where the record showed no suppression of facts or intent to evade tax. The assessee's status as a Government of India undertaking was treated as relevant to the assessment of mala fide intent, and the cited precedents on statutory government bodies were applied. On that basis, penalty under Section 78 of the Finance Act, 1994 was held unsustainable and was set aside. en-us Thu, 06 Feb 2020 00:00:00 +0530 Sat, 30 May 2026 13:50:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469032 Wrong Cenvat credit reversed with interest did not justify equal penalty where the record showed no suppression of facts or intent to evade tax. The assessee's status as a Government of India undertaking was treated as relevant to the assessment of mala fide intent, and the cited precedents on statutory government bodies were applied. On that basis, penalty under Section 78 of the Finance Act, 1994 was held unsustainable and was set aside. Case-Laws Service Tax Thu, 06 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469032