https://www.taxtmi.com/caselaws?id=86505 Erroneous utilisation of Modvat credit may not justify penalty where the credit was otherwise admissible, no undue benefit was obtained, and the position was regularised by later payment of duty through PLA. The note also records that an omission in the earlier order to consider the challenge to penalty was rectified, and the penalty was deleted. The stated principle is that a procedural or accounting irregularity in credit utilisation, without revenue gain or continuing prejudice, need not result in penal consequences. en-us Mon, 28 Oct 1996 00:00:00 +0530 Thu, 25 Aug 2011 12:34:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=86505 Erroneous utilisation of Modvat credit may not justify penalty where the credit was otherwise admissible, no undue benefit was obtained, and the position was regularised by later payment of duty through PLA. The note also records that an omission in the earlier order to consider the challenge to penalty was rectified, and the penalty was deleted. The stated principle is that a procedural or accounting irregularity in credit utilisation, without revenue gain or continuing prejudice, need not result in penal consequences. Case-Laws Central Excise Mon, 28 Oct 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=86505