https://www.taxtmi.com/caselaws?id=115983 The court found that the appellants' failure to debit Modvat credit on the clearance of exempted goods indicated an intention to evade duty payment. As a result, a penalty was imposed on M/s. Perfect Thread Mills Ltd., reduced to Rs. 50,000 due to the deposit of the disputed amount before the show cause notice. The penalty on Shri S.P. Mehta was set aside. The judgment was delivered on 28-3-2005. en-us Mon, 28 Mar 2005 00:00:00 +0530 Wed, 06 Jun 2012 13:07:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=115983 The court found that the appellants' failure to debit Modvat credit on the clearance of exempted goods indicated an intention to evade duty payment. As a result, a penalty was imposed on M/s. Perfect Thread Mills Ltd., reduced to Rs. 50,000 due to the deposit of the disputed amount before the show cause notice. The penalty on Shri S.P. Mehta was set aside. The judgment was delivered on 28-3-2005. Case-Laws Central Excise Mon, 28 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=115983