https://www.taxtmi.com/caselaws?id=207993 The Tribunal upheld the imposition of penalty under Section 11AC for the reversal of modvat credit on capital goods but granted the appellant the option to reduce the penalty to 25% by depositing 25% of the penalty amount, along with duty and interest, within thirty days of the order. The appellant's compliance with the payment terms would be considered by the lower authorities when determining the final penalty amount. The appeal was disposed of based on these conditions, providing a pathway for penalty reduction in accordance with legal precedents. en-us Fri, 18 Mar 2011 00:00:00 +0530 Mon, 02 Jan 2012 10:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207993 The Tribunal upheld the imposition of penalty under Section 11AC for the reversal of modvat credit on capital goods but granted the appellant the option to reduce the penalty to 25% by depositing 25% of the penalty amount, along with duty and interest, within thirty days of the order. The appellant's compliance with the payment terms would be considered by the lower authorities when determining the final penalty amount. The appeal was disposed of based on these conditions, providing a pathway for penalty reduction in accordance with legal precedents. Case-Laws Central Excise Fri, 18 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207993