https://www.taxtmi.com/caselaws?id=116822 The Tribunal upheld the Commissioner (A)'s decision in the appeal filed by the Revenue, rejecting the imposition of penalties and interest under Section 11AC and Section 11AB. The Tribunal recognized the absence of specific provisions in the Modvat scheme for credit reversal under Central Excise Law for duty drawback purposes. Despite the Revenue's argument, the Tribunal aligned with judicial principles and precedents, acknowledging the company's proactive reversal of credit before the Show Cause Notice was issued, leading to the dismissal of the Revenue's appeal. en-us Thu, 03 Nov 2005 00:00:00 +0530 Mon, 18 Jun 2012 10:43:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116822 The Tribunal upheld the Commissioner (A)'s decision in the appeal filed by the Revenue, rejecting the imposition of penalties and interest under Section 11AC and Section 11AB. The Tribunal recognized the absence of specific provisions in the Modvat scheme for credit reversal under Central Excise Law for duty drawback purposes. Despite the Revenue's argument, the Tribunal aligned with judicial principles and precedents, acknowledging the company's proactive reversal of credit before the Show Cause Notice was issued, leading to the dismissal of the Revenue's appeal. Case-Laws Central Excise Thu, 03 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116822