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2010 (1) TMI 460 - AT - Central ExcisePenalty - Irregular availment of credit - the respondents had taken excess CENVAT credit which was detected by the department later on. Upon such detection of wrong availment of excess credit, the respondents reversed the credits and also paid interest thereon. Show cause notice issued for imposing penalty. Held that - fraud, collusion, suppression of facts, willful mis-statement of facts or contravention of Rule with intent to evade duty. Where none of these are alleged in SCN, no penalty can be imposed u/s 11AC of the Act.
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