https://www.taxtmi.com/caselaws?id=113750 The Tribunal upheld the penalty of Rs. 50,000 imposed on the company in an appeal against an Order-in-original confirming the demand of Central Excise duty. The dispute centered on the alleged wrongful availing of an exemption under Notification No. 202/88-C.E. The Tribunal agreed to reduce the Modvat credit amount but also reduced the penalty due to the decreased duty liability. The Appeal filed by the Revenue was allowed to the extent of reducing the Modvat credit, while the penalty was maintained at Rs. 50,000. en-us Tue, 11 Nov 2003 00:00:00 +0530 Tue, 08 May 2012 12:33:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=113750 The Tribunal upheld the penalty of Rs. 50,000 imposed on the company in an appeal against an Order-in-original confirming the demand of Central Excise duty. The dispute centered on the alleged wrongful availing of an exemption under Notification No. 202/88-C.E. The Tribunal agreed to reduce the Modvat credit amount but also reduced the penalty due to the decreased duty liability. The Appeal filed by the Revenue was allowed to the extent of reducing the Modvat credit, while the penalty was maintained at Rs. 50,000. Case-Laws Central Excise Tue, 11 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=113750