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Excess CENVAT Credit Use Over 20% Limit is Procedural Infraction, Not Tax Evasion; No Equivalent Penalty Needed.
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....Excess utilisation of CENVAT credit beyond the limit of 20% - Utilisation of CENVAT credit in excess of 20% could be a procedural infraction but definitely not an evasion of tax which is the requirement for imposition of equivalent amount of penalty. - AT....