https://www.taxtmi.com/caselaws?id=47814 Erroneous Modvat credit was reversed within about a month, and the authorities found no fraud, collusion, misrepresentation, or misdeclaration. On that factual basis, the appellate authority declined to levy penalty or recover interest, and the Tribunal did not disturb that finding. The document states that in the absence of any culpable conduct and with prompt reversal of credit, penalty and interest were not exigible, and no interference was called for. en-us Wed, 23 Nov 2005 00:00:00 +0530 Sat, 31 Jul 2010 10:49:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=47814 Erroneous Modvat credit was reversed within about a month, and the authorities found no fraud, collusion, misrepresentation, or misdeclaration. On that factual basis, the appellate authority declined to levy penalty or recover interest, and the Tribunal did not disturb that finding. The document states that in the absence of any culpable conduct and with prompt reversal of credit, penalty and interest were not exigible, and no interference was called for. Case-Laws Central Excise Wed, 23 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=47814