Penalty Not Imposed for Terminal Excise Duty Credit Reversal Due to Pre-Notice Payment and Compliance.

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....Imposition of penalty - reversal of credit for obtaining the Terminal Excise Duty (TED) benefit from the DGFT - Since the appellant has reversed the cenvat credit before issuance of SCN and also paid interest attributable to such late reversal of cenvat credit, the penalty cannot be imposed - AT....