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2018 (4) TMI 941 - CESTAT ALLAHABADPenalty u/r 15 read with Section 11AC of the Act - it was alleged that appellant had taken excess credit on the basis of dealer’s invoice - Held that: - the appellant had reversed the excess credit before the issuance of SCN - the case is squarely covered by the precedent decision of this Tribunal in the case of M/s Prayas Casting Ltd. [2012 (7) TMI 2 - CESTAT, AHMEDABAD], where it was held that Having reversed the ineligible availmaint of the CENVAT Credit on being pointed out by the Audit party, the appellant has shown their bonafide on admitting the error, penalty set aside - penalty not warranted - appeal allowed - decided in favor of appellant.
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