https://www.taxtmi.com/caselaws?id=54658 Amounts reversed under Rule 57CC were treated as already paid, and prior precedent had held that such sums were not recoverable as duty under Section 11A or Rule 57I(1). Although Clause 82 of the Finance Act, 2005 retrospectively enabled recovery, the Explanation preserved the principle that conduct not punishable earlier could not be treated as an offence for penalty purposes. In the absence of fraud, wilful misstatement, collusion, suppression of facts, or intent to evade duty, and where the assessee had already reversed the credit, penalty and interest were held to be unsustainable and were set aside. en-us Wed, 30 Nov 2005 00:00:00 +0530 Thu, 21 Oct 2010 13:34:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=54658 Amounts reversed under Rule 57CC were treated as already paid, and prior precedent had held that such sums were not recoverable as duty under Section 11A or Rule 57I(1). Although Clause 82 of the Finance Act, 2005 retrospectively enabled recovery, the Explanation preserved the principle that conduct not punishable earlier could not be treated as an offence for penalty purposes. In the absence of fraud, wilful misstatement, collusion, suppression of facts, or intent to evade duty, and where the assessee had already reversed the credit, penalty and interest were held to be unsustainable and were set aside. Case-Laws Central Excise Wed, 30 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=54658