https://www.taxtmi.com/caselaws?id=203472 Penalty under Rule 173Q(1)(bb) was not attracted where Modvat credit on admissible capital goods was taken before installation but was not utilised and was promptly reversed suo motu after the irregularity was noticed. The premature credit was later lawfully availed after installation, and the record showed no intention to contravene the law or wrongfully use the credit. On these facts, the ingredients for penalty were not made out, and the penalty was set aside. en-us Wed, 11 Aug 2010 00:00:00 +0530 Sat, 02 Jan 2016 10:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203472 Penalty under Rule 173Q(1)(bb) was not attracted where Modvat credit on admissible capital goods was taken before installation but was not utilised and was promptly reversed suo motu after the irregularity was noticed. The premature credit was later lawfully availed after installation, and the record showed no intention to contravene the law or wrongfully use the credit. On these facts, the ingredients for penalty were not made out, and the penalty was set aside. Case-Laws Central Excise Wed, 11 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203472