https://www.taxtmi.com/caselaws?id=94521 The court upheld the penalty imposition on the appellants for irregularly availing excess credit under the Modvat Scheme. Despite the appellants' argument of inadvertent clerical error, the Revenue's contention of intentional excess credit to cover duty shortfall was supported by the Assistant Commissioner's observations. The penalty was reduced from Rs. 5,000 to Rs. 1,000 due to the intentional nature of the excess credit but was upheld based on the circumstances. The appeal was rejected, affirming the penalty imposition for the irregularly availed excess credit. en-us Tue, 11 Jan 2000 00:00:00 +0530 Wed, 23 Nov 2011 11:26:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=94521 The court upheld the penalty imposition on the appellants for irregularly availing excess credit under the Modvat Scheme. Despite the appellants' argument of inadvertent clerical error, the Revenue's contention of intentional excess credit to cover duty shortfall was supported by the Assistant Commissioner's observations. The penalty was reduced from Rs. 5,000 to Rs. 1,000 due to the intentional nature of the excess credit but was upheld based on the circumstances. The appeal was rejected, affirming the penalty imposition for the irregularly availed excess credit. Case-Laws Central Excise Tue, 11 Jan 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=94521