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2017 (3) TMI 1213 - AT - Central ExciseImposition of penalty - reversal of credit for obtaining the Terminal Excise Duty (TED) benefit from the DGFT - Held that: - the appellant was entitled for the benefit of Terminal Excise Duty. However, the appellant had purchased the goods on payment of Central Excise Duty and availed cenvat credit of such duty paid on the capital goods. Since the appellant has reversed the cenvat credit before issuance of SCN and also paid interest attributable to such late reversal of cenvat credit, the penalty cannot be imposed on the appellant, in view of the fact that there was no element of suppression, fraud, collusion etc, with intent to avail wrong cenvat credit - penalty set aside - appeal allowed - decided in favor of appellant-assessee.
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