https://www.taxtmi.com/caselaws?id=115771 Penalty under Rule 173Q was unsustainable where the alleged finished goods were unconditionally released and not found liable to confiscation, so the statutory precondition for penalty was absent. Duty and interest could not be demanded on Modvat credit relating to inputs found short when the record showed only improper accounting under Rule 57F and no finding of clandestine removal; in that situation, duty was not justified and consequential interest also failed. The tribunal therefore treated non-accountal and improper accounting as insufficient, by themselves, to sustain duty demand or the related penal consequences. en-us Wed, 03 Nov 2004 00:00:00 +0530 Fri, 01 Jun 2012 17:23:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=115771 Penalty under Rule 173Q was unsustainable where the alleged finished goods were unconditionally released and not found liable to confiscation, so the statutory precondition for penalty was absent. Duty and interest could not be demanded on Modvat credit relating to inputs found short when the record showed only improper accounting under Rule 57F and no finding of clandestine removal; in that situation, duty was not justified and consequential interest also failed. The tribunal therefore treated non-accountal and improper accounting as insufficient, by themselves, to sustain duty demand or the related penal consequences. Case-Laws Central Excise Wed, 03 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=115771