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2011 (9) TMI 321 - CESTAT, NEWDELHIWrong utilization of credit - wrong utilization of credit the penalty provisions under Rule 15(2) of the CENVAT Credit Rules, 2004 cannot be invoked unless a case of suppression, fraud etc. is established - A mere wrong utilization of credit cannot attract provisions of Rule 15(2) - Such a case, however, come under the provisions of Rule 15(1) which deals with wrong utilization of the credit in other cases i.e. in cases other than those involving suppression, fraud etc - The learned counsel for the appellant-assessee confirms that the interest amount has already been paid on 11.9.2009. Hence the penalty imposed on the appellant-assessee is reduced to ₹ 7,200/- Thus, appeal of the appellant-assessee is partly allowed by way of reduction of penalty.
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