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2018 (3) TMI 441 - CESTAT CHENNAIPenalty u/s 11AC - CENVAT credit - it was alleged that the appellant had transferred the capital goods/inputs without raising invoices and without reversing the credit - Rule 3(5) of CCR 2004 - Held that: - The credit was reversed even prior to the visit by the officers. The double credit availed was reversed immediately on being pointed out. Taking the facts into consideration, the facts do not disclose any intention on the part of the appellant to evade payment of duty. Therefore, the imposition of penalty is unjustified and requires to be set aside - appeal allowed in part.
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