https://www.taxtmi.com/caselaws?id=86288 The Appellate Tribunal held the appellants liable for wrongly claiming Modvat credit due to double entries, reducing the penalty to Rs. 60,000 from Rs. 4,70,007.43. Despite acknowledging system failures and human errors, the Tribunal emphasized the appellants' responsibility to maintain accurate systems to prevent such mistakes. The judgment underscores the significance of effective internal controls in handling Modvat credits and the consequences of failing to do so, even in cases of inadvertent errors. en-us Wed, 20 Nov 1996 00:00:00 +0530 Wed, 17 Aug 2011 10:37:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=86288 The Appellate Tribunal held the appellants liable for wrongly claiming Modvat credit due to double entries, reducing the penalty to Rs. 60,000 from Rs. 4,70,007.43. Despite acknowledging system failures and human errors, the Tribunal emphasized the appellants' responsibility to maintain accurate systems to prevent such mistakes. The judgment underscores the significance of effective internal controls in handling Modvat credits and the consequences of failing to do so, even in cases of inadvertent errors. Case-Laws Central Excise Wed, 20 Nov 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=86288