https://www.taxtmi.com/caselaws?id=120772 The appellant corrected entries in its Personal Ledger Account for excise duty on cotton fabrics supplied. The adjudicating authority accepted the correction based on Notification No. 40/95, allowing suitable credit or debit entries by the assessee. The Tribunal held that no excise duty was payable, making the duty demand invalid. The imposition of penalty was dismissed as unjustified, relying on previous Tribunal decisions supporting corrections by assessees. Consequently, the duty demand and penalty were deemed unsustainable, set aside, and the appeal was allowed in favor of the appellant. en-us Mon, 15 Jan 2007 00:00:00 +0530 Tue, 24 Jul 2012 12:31:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120772 The appellant corrected entries in its Personal Ledger Account for excise duty on cotton fabrics supplied. The adjudicating authority accepted the correction based on Notification No. 40/95, allowing suitable credit or debit entries by the assessee. The Tribunal held that no excise duty was payable, making the duty demand invalid. The imposition of penalty was dismissed as unjustified, relying on previous Tribunal decisions supporting corrections by assessees. Consequently, the duty demand and penalty were deemed unsustainable, set aside, and the appeal was allowed in favor of the appellant. Case-Laws Central Excise Mon, 15 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120772