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Reversal of Cenvat Credit: Interest and Penalties Imposed for Retaining Credit on Destroyed Goods Not Bona Fide.

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....Reversal of Cenvat credit on CVD - Having continued to retain the credit after destruction of the same till being pointed out by the department cannot be construed as a bonafide act - demand of interest and penalty confirmed - AT....

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Reversal of Cenvat Credit: Interest and Penalties Imposed for Retaining Credit on Destroyed Goods Not Bona Fide.