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TMI Blog2018 (9) TMI 1356X X X X Extracts X X X X X X X X Extracts X X X X ..... of ER-1 return itself. As such it cannot be said that the credit was availed by appellant with any mala fide. The issue being a bona fide issue, the invocation of penal provisions against the assessee cannot be appreciated - penalty set aside - appeal allowed - decided in favor of appellant. - APPEAL No. E/3062/2012-EX[DB] - A/71794/2014-EX[DB] - Dated:- 3-8-2018 - Mrs. Archana Wadhwa, Membe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vailable only on or after 10.09.2004 and inasmuch as the period involved was from 01.04.2003 to 09.09.2004. Revenue entertained a view that the credit availed by the appellant was not admissible. 2. The appellant accepted the objection raised by the Revenue and immediately reversed the credit. Subsequently, proceedings were initiated against them proposing confirmation of such reversal along wi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ant with effect from 10.09.2004. However, they availed the same from the period from 01.01.2003 to 09.09.2004 by reflecting the same in their statutory record. Further the fact of availment of credit was also dully reflected by the appellant in their ER-1 report. In fact the fact of availment of credit has come to the notice of the Revenue only from the scrutiny of ER-1 return itself. As such it c ..... X X X X Extracts X X X X X X X X Extracts X X X X
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