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2016 (9) TMI 838 - AT - Central ExciseImposition of penalty - Section 11AC of the Central Excise Act, 1944 - appellant have reversed the CENVAT credit and interest before issuance of show cause notice - Held that:- it is not disputed that they have reversed the CENVAT credit immediately on being pointed out by the Audit. Subsequently, they have also paid the interest. Both were done before the issuance of show cause notice. In the peculiar facts and circumstances of the instant case, the matter should have been concluded in accordance with the provisions of Section 11 A(2B) and there was no need for issuance of show cause notice, much lesser any imposition of penalty under Section 11 AC. Hence, the imposition of penalty under Section 11AC in the impugned order-in-original is not maintainable and the impugned order is modified to the said extent. - Decided in favour of appellant
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