Validity of Penalty for wrong availment of CENVAT Credit on Employee

Pranatharthiharan Sridharan Vs Commissioner of Central Excise & ST (CESTAT Ahmedabad) From the plain reading of Rule 15(1), we find that a person shall be liable to penalty who takes or utilize Cenvat credit in respect of input or capital goods or input services wrongly or in contravention of any of the provisions of these Rules. In the facts of the present case, it is M/s. Diamond Power Transformers Limited who has availed fraudulent Cenvat credit, the appellant being employee Director has not availed Cenvat credit for himself therefore, Rule 15(1) is not applicable on the person who has ...