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2014 (1) TMI 3 - AT - Central ExciseCenvat credit on capital goods - Held that:- Following V.V.F. Ltd. v. C.C.E., Daman [2009 (4) TMI 657 - CESTAT, AHMEDABAD] - The credit so availed was not even utilised by the appellant, the same was more or less in the nature of a paper entry - There was no mala fide on the part of the appellant to avail excess credit in the first year itself so as to invoke penal action against them - Imposition of penalty on the appellant in terms of Section 11AC was not called for - Decided in favour of assessee.
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