No Penalty for Fraudulent CENVAT Credit Passing Due to Inapplicable Rule 26 (2) (ii) and Duty-Paid Goods.

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....Levy of penalty - fraudulent passing of CENVAT Credit - Since the appellant’s case falls under Rule 26 (2) (ii) but the same is not existing at the relevant time the appellant cannot be penalized when the goods dealt with by him was not liable for confiscation on the ground that the same was admittedly duty paid. - AT....