2009 (4) TMI 179

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..... failure referred to in the said provisions if the assessee proves that there was a reasonable cause for that said failure - I find that the Commissioner (Appeals) had given the detailed finding for setting aside penalty, which was not disputed by the Revenue in the Grounds of Appeal – Therefore, Appeal is rejected - E/647/2008-SM (BR) - 524/2009-SM (BR)(PB), - Dated:- 15-4-2009 - Shri P.K. Das .....

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..... position and find that in the circumstances, the ingredients of mens-rea are absent. Under these circumstances, I hold that the penalties imposed upon the appellants under Section 76 of the Act read with Rule 15 of the Cenvat Credit Rules, 2004 and under Section 77 of the Act are not maintainable and liable to be set aside." 3. Ld. DR on behalf of the Revenue submits that Section 76 of the Fi .....

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