https://www.taxtmi.com/caselaws?id=125966 The Appellate Tribunal CESTAT, Kolkata, partially allowed the appeal in a case involving the disallowance of Modvat credit for material used in repairing and supporting capital goods. The Tribunal upheld the disallowance of credit for such material but set aside the penalty imposed on the Appellant. The penalty was reduced from Rs. 10,08,438 to Rs. 5,49,640 due to the Appellant's actions in reversing the irregular duty credit and not utilizing it. The Tribunal considered the circumstances and intentions of the Appellant in reducing the penalty. en-us Wed, 17 Dec 2008 00:00:00 +0530 Thu, 01 Nov 2012 09:44:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=125966 The Appellate Tribunal CESTAT, Kolkata, partially allowed the appeal in a case involving the disallowance of Modvat credit for material used in repairing and supporting capital goods. The Tribunal upheld the disallowance of credit for such material but set aside the penalty imposed on the Appellant. The penalty was reduced from Rs. 10,08,438 to Rs. 5,49,640 due to the Appellant's actions in reversing the irregular duty credit and not utilizing it. The Tribunal considered the circumstances and intentions of the Appellant in reducing the penalty. Case-Laws Central Excise Wed, 17 Dec 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=125966