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2018 (9) TMI 1356 - CESTAT ALLAHABADPenalty - CENVAT Credit reverses on being pointed out - bonafide intent - Held that:- The fact of availment of credit was also dully reflected by the appellant in their ER-1 report. In fact the fact of availment of credit has come to the notice of the Revenue only from the scrutiny of ER-1 return itself. As such it cannot be said that the credit was availed by appellant with any mala fide. The issue being a bona fide issue, the invocation of penal provisions against the assessee cannot be appreciated - penalty set aside - appeal allowed - decided in favor of appellant.
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