https://www.taxtmi.com/caselaws?id=108998 Penalty and personal penalties were unsustainable where Modvat credit on inputs used in final products cleared at nil duty had been substantially reversed, partly on being pointed out and the balance in the next month. The record did not establish suppression, and the show cause notice did not allege non-filing of the relevant returns with the Range Officer. In the absence of any prescribed time limit for reversal, the tribunal found no legal basis for imposing heavy penal consequences. The penalty orders were therefore set aside, and the penal consequences arising from the credit dispute were annulled. en-us Mon, 26 May 2003 00:00:00 +0530 Thu, 05 Apr 2012 13:30:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=108998 Penalty and personal penalties were unsustainable where Modvat credit on inputs used in final products cleared at nil duty had been substantially reversed, partly on being pointed out and the balance in the next month. The record did not establish suppression, and the show cause notice did not allege non-filing of the relevant returns with the Range Officer. In the absence of any prescribed time limit for reversal, the tribunal found no legal basis for imposing heavy penal consequences. The penalty orders were therefore set aside, and the penal consequences arising from the credit dispute were annulled. Case-Laws Central Excise Mon, 26 May 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=108998