2013 (7) TMI 604

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..... /- confirmed. Interest shall follow – Decided against the Assessee. Penalty of Rs. 1,10,956/-in terms of Rule 15(2) of Cenvat Credit Rules, 2004 read with Section 11AC of Central Excise Act, 1944 – Held that:- No mensrea brought out by show cause notice to invoke Section 11AC in the present case. Intention of evasion being absent there shall not be penalty under Rule 15(2) of Cenvat Credit Rule .....

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..... e adjudication. 4. Heard both sides and perused the record. 5. There is established fact that amount of Rs. 6,75,685/-and Rs. 1,11,965/-was received by the appellant from insurance company towards value of damaged capacitor which was capital goods on which credit was taken under Cenvat Credit Rules, 2004. Revenue intended to recover capital goods credit of Rs. 1,10,956/-against the value recov .....

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