https://www.taxtmi.com/caselaws?id=97952 Penalty for Modvat credit reversal was held unwarranted because the legal position on reversal in the relevant circumstances was unsettled and the assessee was not shown to have acted with deliberate intent to evade central excise duty. As the relatable credit had already been reversed and restoration was not sought, penal action was considered unjustified and was set aside in favour of the assessee. en-us Thu, 12 Jul 2001 00:00:00 +0530 Wed, 18 Jan 2012 16:46:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97952 Penalty for Modvat credit reversal was held unwarranted because the legal position on reversal in the relevant circumstances was unsettled and the assessee was not shown to have acted with deliberate intent to evade central excise duty. As the relatable credit had already been reversed and restoration was not sought, penal action was considered unjustified and was set aside in favour of the assessee. Case-Laws Central Excise Thu, 12 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97952