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2021 (2) TMI 1133 - AT - Central ExciseLevy of penalty u/r 15(1) of Cenvat Credit Rules, 2004 - suppression on the part of the assessee or not - allegation is that assessee have not come out with full and proper details before the Revenue authority at first instance - input - MT HDT Feed - HELD THAT:- No case of imposition of penalty under Rule 15(2) of Cenvat Credit Rules, 2004 is made out. Further cogent explanation given by the assessee have not been found wrong in the impugned adjudication order. It has been held by the Hon’ble Bombay High Court in Commissioner of Central Excise, Pune-II Vs. Ajinkya Enterprises [2012 (7) TMI 141 - BOMBAY HIGH COURT], that payment of duty on output/finished goods amounts to reversal of Cenvat credit taken on inputs. Appeal dismissed - decided against Revenue.
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