https://www.taxtmi.com/caselaws?id=115841 Where ineligible Modvat credit is reversed after detection and the assessee pays 25% of the duty amount as penalty before adjudication, with interest paid subsequently, the conditions for the reduced penalty under the proviso to Section 11AC of the Central Excise Act, 1944 are satisfied. The proviso allows penalty reduction to 25% where the duty determined under Section 11A(2) and the interest under Section 11AB are paid within the stipulated period. On these facts, the denial of the reduced penalty was unsustainable and the assessee was entitled to the statutory benefit. en-us Wed, 22 Dec 2004 00:00:00 +0530 Mon, 04 Jun 2012 15:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=115841 Where ineligible Modvat credit is reversed after detection and the assessee pays 25% of the duty amount as penalty before adjudication, with interest paid subsequently, the conditions for the reduced penalty under the proviso to Section 11AC of the Central Excise Act, 1944 are satisfied. The proviso allows penalty reduction to 25% where the duty determined under Section 11A(2) and the interest under Section 11AB are paid within the stipulated period. On these facts, the denial of the reduced penalty was unsustainable and the assessee was entitled to the statutory benefit. Case-Laws Central Excise Wed, 22 Dec 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=115841