https://www.taxtmi.com/caselaws?id=44364 Penalty for alleged irregular availment of Modvat credit was examined in the context of duty-paid imported inputs and documentation lapses. The authorities had accepted that the credit was otherwise admissible and that the mistake arose from a procedural misunderstanding made in good faith, yet penalty was still sustained under the penal provisions. In writ jurisdiction, the Court did not conclusively decide the penalty liability itself, but directed fresh consideration of whether any penalty was leviable at all on the recorded facts and bona fides. The petitioner therefore obtained partial relief through remittal of the penalty issue. en-us Mon, 19 Feb 1996 00:00:00 +0530 Fri, 25 Jun 2010 17:44:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=44364 Penalty for alleged irregular availment of Modvat credit was examined in the context of duty-paid imported inputs and documentation lapses. The authorities had accepted that the credit was otherwise admissible and that the mistake arose from a procedural misunderstanding made in good faith, yet penalty was still sustained under the penal provisions. In writ jurisdiction, the Court did not conclusively decide the penalty liability itself, but directed fresh consideration of whether any penalty was leviable at all on the recorded facts and bona fides. The petitioner therefore obtained partial relief through remittal of the penalty issue. Case-Laws Central Excise Mon, 19 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=44364