2018 (10) TMI 465

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....Shri P. Juneja, AR - for the respondent ORDER Per Archana Wadhwa: The challenge in the present appeal is to penalty of Rs. 88,616/- imposed in terms of the provisions of Section 11AC of the Central Excise Act. 2. As per the facts on record, the appellant had availed Cenvat credit in respect of their capital goods, which subsequently got break down in fire and were sent for repair. Duri....

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....ap was reflected in their records and was under the commercial invoice. It is well settled law that when the transactions are part of the records maintained by the assessee, no mala fide can be attributed to them to attract the penal provisions. Otherwise also, I find that the interest to the tune of more than Rs. 1 lakh stand deposited by them, which is penal in nature and it cannot be held that ....