https://www.taxtmi.com/caselaws?id=100605 Excess Modvat credit reversed by the assessee in the same month, before issuance of the show cause notice, was treated as a curative step that removed the basis for penalty. Applying its earlier decisions, CEGAT held that where the default is corrected before notice, penalty under Rule 173Q of the Central Excise Rules is not justified on the same lapse. On those facts, the penalty was held not imposable and the appeal succeeded. en-us Thu, 02 Aug 2001 00:00:00 +0530 Fri, 03 Feb 2012 14:46:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100605 Excess Modvat credit reversed by the assessee in the same month, before issuance of the show cause notice, was treated as a curative step that removed the basis for penalty. Applying its earlier decisions, CEGAT held that where the default is corrected before notice, penalty under Rule 173Q of the Central Excise Rules is not justified on the same lapse. On those facts, the penalty was held not imposable and the appeal succeeded. Case-Laws Customs Thu, 02 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100605