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2016 (2) TMI 68 - AT - Central ExciseEqual penalty imposed under Rule 15(2) of the Cenvat Credit Rules, 2004 read with Section 11AC of the Central Excise Act, 1944 - Held that:- There is no allegation regarding fraud, wilful misstatement, suppression of fact which are required as per Rule 15(2) read with Section 11AC of the Central Excise Act to impose equal amount of penalty. Moreover, once the learned Commissioner (Appeals) has dropped the interest on the ground that the cenvat credit was availed but not utilized by the appellant and, therefore, by relying upon the judgment of the Hon’ble High Court of Punjab & Haryana in the case of Ind-Swift Laboratories Ltd. cited supra, the interest was dropped and once the interest part was dropped by the Commissioner (Appeals) and there are no allegations of suppression and no categorical finding on the requirement of Section 11AC, then in my considered opinion, the imposition of penalty by the respondent is wrong and illegal. Therefore, set aside impugned order and allow the appeal. - Decided in favour of assessee
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