https://www.taxtmi.com/caselaws?id=97809 Modvat credit taken on duty-paying documents issued more than six months earlier breached the time-limit under Rule 57Q and was not a mere procedural lapse. The absence of intent to evade duty did not bar penalty on these facts, so penalty was sustainable in principle. However, because the credit was reversed shortly after being taken and the surrounding circumstances warranted leniency, the penalty was reduced to a nominal amount in favour of the assessee. en-us Thu, 19 Apr 2001 00:00:00 +0530 Wed, 18 Jan 2012 11:44:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97809 Modvat credit taken on duty-paying documents issued more than six months earlier breached the time-limit under Rule 57Q and was not a mere procedural lapse. The absence of intent to evade duty did not bar penalty on these facts, so penalty was sustainable in principle. However, because the credit was reversed shortly after being taken and the surrounding circumstances warranted leniency, the penalty was reduced to a nominal amount in favour of the assessee. Case-Laws Central Excise Thu, 19 Apr 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97809