https://www.taxtmi.com/caselaws?id=210981 Penalty for wrongful availment of Modvat credit is not justified where the credit was entered in statutory records, reversed promptly after departmental objection, and interest was paid. On these facts, the conduct did not show fraudulent intent, mala fide suppression, or any attempt to gain by wrongful availment, especially where the disputed amount was small against the available balance. The penalty was therefore rightly deleted, and the Revenue's challenge failed. en-us Tue, 14 Feb 2012 00:00:00 +0530 Mon, 03 Sep 2012 17:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210981 Penalty for wrongful availment of Modvat credit is not justified where the credit was entered in statutory records, reversed promptly after departmental objection, and interest was paid. On these facts, the conduct did not show fraudulent intent, mala fide suppression, or any attempt to gain by wrongful availment, especially where the disputed amount was small against the available balance. The penalty was therefore rightly deleted, and the Revenue's challenge failed. Case-Laws Central Excise Tue, 14 Feb 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210981