https://www.taxtmi.com/caselaws?id=102079 Personal penalty for availing Modvat credit on fake invoices was held unsustainable where there was no clear finding that the assessee knew of, or participated in, the wrongful availment. The record showed that the invoice was produced before the Superintendent for defacement and the credit was promptly reversed when challenged, and there was no material establishing mala fides. In the absence of proof of involvement or culpable conduct, the foundation for penalty was not made out, and the penalty was set aside. en-us Fri, 19 Apr 2002 00:00:00 +0530 Mon, 13 Feb 2012 16:26:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102079 Personal penalty for availing Modvat credit on fake invoices was held unsustainable where there was no clear finding that the assessee knew of, or participated in, the wrongful availment. The record showed that the invoice was produced before the Superintendent for defacement and the credit was promptly reversed when challenged, and there was no material establishing mala fides. In the absence of proof of involvement or culpable conduct, the foundation for penalty was not made out, and the penalty was set aside. Case-Laws Central Excise Fri, 19 Apr 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102079