https://www.taxtmi.com/caselaws?id=109157 The Tribunal upheld the reversal of Modvat credit on plastic granules due to duty evasion, reduced the penalty on the company to Rs. 5.0 lacs, and set aside the penalty imposed on the Managing Director due to his absence and lack of involvement in the violation. en-us Mon, 29 Apr 2002 00:00:00 +0530 Fri, 06 Apr 2012 12:40:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=109157 The Tribunal upheld the reversal of Modvat credit on plastic granules due to duty evasion, reduced the penalty on the company to Rs. 5.0 lacs, and set aside the penalty imposed on the Managing Director due to his absence and lack of involvement in the violation. Case-Laws Central Excise Mon, 29 Apr 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=109157