https://www.taxtmi.com/caselaws?id=120685 The Tribunal dismissed Revenue's appeal, upholding the Commissioner (Appeals)' decision to set aside penalty and interest imposed on the respondent for availing Modvat credit on documents without receiving inputs. The Tribunal interpreted Section 11AC, ruling that once duty, interest, and 25% of the penalty are paid within the specified period, no further liability for the full penalty exists. As the respondent had paid these amounts, the appeal was rejected, and the impugned order modified accordingly. The judgment was pronounced on 28-11-2006. en-us Tue, 28 Nov 2006 00:00:00 +0530 Mon, 23 Jul 2012 14:59:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120685 The Tribunal dismissed Revenue's appeal, upholding the Commissioner (Appeals)' decision to set aside penalty and interest imposed on the respondent for availing Modvat credit on documents without receiving inputs. The Tribunal interpreted Section 11AC, ruling that once duty, interest, and 25% of the penalty are paid within the specified period, no further liability for the full penalty exists. As the respondent had paid these amounts, the appeal was rejected, and the impugned order modified accordingly. The judgment was pronounced on 28-11-2006. Case-Laws Central Excise Tue, 28 Nov 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120685