TaxTMI 
TaxTMI 
2018 (1) TMI 351
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....ed is whether the appellant is liable for penalty under section 11AC for the offence of wrong availment of credit due to the reason that either credit was taken on value or on wrong amount in respect of 42 invoices. 2. Shri. C.J. Antao, Ld. Counsel for the appellant submits that as regard the wrong availment of credit appellant has not disputed wrong availement of credit due to inadve....
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....respect of 42 invoices. The nature of the wrong credit is either it was taken in respect of value instead of duty or wrong figures of duty was shown as credit in their Cenvat account. I am of the view that such mistake can occur only in respect of one or two invoices, in the instant case mistake has occurred in 42 invoices, this clearly shows gross negligence&nb....
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....been raised and penalties have been sought to he invoked against the noticee not only on the basis of the objections raised by the Audit Party but also on the agreement of the assessee. it is also on record that the assessee reversed the said amount of Rs. 8,61,663/- vide Cenvat Account Debit E. No. 5949 on 17-01-2013 and Debit E. No. 7227 dtd. 08.03.2013. Subsequently they also paid interest 18 %....