Director's Penalty u/r 15(1) Overturned in CENVAT Credit Case; Employee Not Liable for Credit Decisions.

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....Levy of personal penalty under Rule 15(1) of Cenvat Credit Rules, 2004 - wrong availment of CENVAT Credit by the company - appellant submits that appellant is a technocrat and employed as Director operations and looking after production activities of the Company - The penalty under Rule 15(1) on the present appellant, who is merely an employee of the Company, is not sustainable - AT....