https://www.taxtmi.com/caselaws?id=122576 The appellants, M/s Charu Steels Ltd., and its directors, were granted excise duty exemption under Notification No. 50/2003-CE dated 10-6-03 by the court. The court found that the appellants had increased their installed capacity by more than 25% through modernization and replacement of critical machinery, meeting the notification's requirements. Consequently, the demand for duty was deemed unsustainable. Penalties imposed on the appellants and their directors were also set aside as they were found to have acted in good faith and were entitled to the exemption. en-us Wed, 25 Apr 2007 00:00:00 +0530 Tue, 14 Aug 2012 16:56:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=122576 The appellants, M/s Charu Steels Ltd., and its directors, were granted excise duty exemption under Notification No. 50/2003-CE dated 10-6-03 by the court. The court found that the appellants had increased their installed capacity by more than 25% through modernization and replacement of critical machinery, meeting the notification's requirements. Consequently, the demand for duty was deemed unsustainable. Penalties imposed on the appellants and their directors were also set aside as they were found to have acted in good faith and were entitled to the exemption. Case-Laws Central Excise Wed, 25 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=122576