Introducing the “In Favour Of” filter in Case Laws.
- ⚖️ Instantly identify judgments decided in favour of the Assessee, Revenue, or Appellant
- 🔍 Narrow down results with higher precision
Try it now in Case Laws →
TaxTMI Login
🚀 New Feature Launched ✕
Just a moment...
Introducing the “In Favour Of” filter in Case Laws.
Try it now in Case Laws →
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Case Laws
of of All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>CESTAT Upholds Penalty for Excess Modvat Credit; Rs. 2 Lakh Fine Deemed Reasonable</h1> The Appellate Tribunal CESTAT, Mumbai upheld a penalty of Rs. 2 lakhs on appellants for taking excess Modvat credit at 15% instead of the restricted 10%. ... Cenvat/Modvat - Inputs - Penalty The Appellate Tribunal CESTAT, Mumbai upheld a penalty of Rs. 2 lakhs on appellants for taking excess Modvat credit at 15% instead of the restricted 10%. The Tribunal ruled that the restriction of 10% under Notification No. 5/94 applied, and the penalty was reasonable due to the prolonged use of inadmissible credit. The appeal was dismissed.
TaxTMI 
TaxTMI 
