https://www.taxtmi.com/caselaws?id=97120 Omission to consider the quantum of penalty under the Central Excise Rules was treated as a mistake apparent from the record where the assessee had specifically challenged the penalty, including the absence of mens rea and mala fides. The Tribunal applied the principle that penalty must be commensurate with the offence and noted that the substantive relief on Modvat credit reduction justified corresponding reconsideration of penalty in the interest of justice. The rectification was therefore allowed and the penalty was reduced from Rs. 1.5 lakhs to Rs. 1 lakh. en-us Fri, 11 May 2001 00:00:00 +0530 Sat, 14 Jan 2012 11:23:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97120 Omission to consider the quantum of penalty under the Central Excise Rules was treated as a mistake apparent from the record where the assessee had specifically challenged the penalty, including the absence of mens rea and mala fides. The Tribunal applied the principle that penalty must be commensurate with the offence and noted that the substantive relief on Modvat credit reduction justified corresponding reconsideration of penalty in the interest of justice. The rectification was therefore allowed and the penalty was reduced from Rs. 1.5 lakhs to Rs. 1 lakh. Case-Laws Central Excise Fri, 11 May 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97120