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2012 (8) TMI 505 - CESTAT, CHENNAIPenalty u/s 11AC on account of wrong availment of 100% Cenvat Credit on capital goods during the period July, 2008 - appellants reversed the entire cenvat credit availed wrongly along with interest before the issue of Show cause notice - Held that:- As in the show cause notice itself, it has been stated that the appellants have availed cenvat credit wrongly, therefore the provisions of Section 11AC are not attracted although, they have violated the provisions of Section 11AC, but not with intention to evade payment of duty. There was no intention to evade duty can also be ascertained by verification of their cenvat credit account, as the appellants are having sufficient cenvat credit balance in their account. Penalty set aside.
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