https://www.taxtmi.com/caselaws?id=51510 The tribunal partially allowed the appeal, upholding the demand of Rs. 1,32,378.86 paise against the appellant for wrong availment of Modvat credit without actual receipt of goods. However, the penalty imposed was reduced from Rs. 1 lakh to Rs. 40,000 considering the appellant's prompt reversal of the credit and corrective actions taken. The tribunal found violations of natural justice unsubstantiated and rejected the time-barred claim due to non-reflective records. en-us Thu, 13 Jun 2002 00:00:00 +0530 Sat, 25 Sep 2010 11:58:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51510 The tribunal partially allowed the appeal, upholding the demand of Rs. 1,32,378.86 paise against the appellant for wrong availment of Modvat credit without actual receipt of goods. However, the penalty imposed was reduced from Rs. 1 lakh to Rs. 40,000 considering the appellant's prompt reversal of the credit and corrective actions taken. The tribunal found violations of natural justice unsubstantiated and rejected the time-barred claim due to non-reflective records. Case-Laws Central Excise Thu, 13 Jun 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51510