https://www.taxtmi.com/caselaws?id=108017 Penalty under Rule 173Q was held unsustainable where the only lapse was procedural delay in seeking extension of time for receipt of goods. The credit had already been reversed, and the assessee did not dispute the duty liability or entitlement to the reversed credit. In these circumstances, no basis existed for penal action, and the penalty was set aside in favour of the assessee. en-us Fri, 26 Sep 2003 00:00:00 +0530 Wed, 28 Mar 2012 14:01:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108017 Penalty under Rule 173Q was held unsustainable where the only lapse was procedural delay in seeking extension of time for receipt of goods. The credit had already been reversed, and the assessee did not dispute the duty liability or entitlement to the reversed credit. In these circumstances, no basis existed for penal action, and the penalty was set aside in favour of the assessee. Case-Laws Central Excise Fri, 26 Sep 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108017