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2018 (8) TMI 1568 - AT - Central ExcisePenalty u/s 11AC of CEA - rejected material - cenvat credit on these rejected imported material not reversed - Held that:- It is brought out from the records that immediately on being pointed out by the audit in March 2012, the appellants have reversed the credit alongwith interest and intimated the department vide their letter dt.31/3/2012 - there was no malafide on the part of the appellant and the same was only an inadvertent mistake in reversing the credit - penalty set aside - appeal allowed.
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