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2015 (9) TMI 1442 - AT - Central ExcisePenalty imposed under Rule 15 of the Cenvat Credit Rules, 2004 read with Section 11AC of the Central Excise Act - irregular Cenvat credit - Held that:- Taking of irregular Cenvat credit and subsequent reversal thereof in the circumstances of the present case is not attributable to the situation involving suppression, misstatement, etc., in view of the fact that the appellant had sufficient balance in its Cenvat account to take care the deficiency. Since, the appellant has reversed the irregularly availed Cenvat credit and paid the interest therein, it is of the considered view that the appellant should get the benefit of the provisions of Section 11A(2B) of the Central Excise Act, for non-imposition of penalty. - Decided in favour of assessee
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