https://www.taxtmi.com/caselaws?id=92579 Penalty for removal of inputs without following the prescribed Modvat procedure was considered reducible where credit had been reversed before the show cause notice and the surrounding circumstances had already been taken into account. Fiscal penalties were treated as civil in nature, and the quantum was to remain corrective rather than excessive. On those facts, the reduced penalty was sustained at the modified level. en-us Thu, 21 Oct 1999 00:00:00 +0530 Wed, 02 Nov 2011 16:20:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=92579 Penalty for removal of inputs without following the prescribed Modvat procedure was considered reducible where credit had been reversed before the show cause notice and the surrounding circumstances had already been taken into account. Fiscal penalties were treated as civil in nature, and the quantum was to remain corrective rather than excessive. On those facts, the reduced penalty was sustained at the modified level. Case-Laws Central Excise Thu, 21 Oct 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=92579