https://www.taxtmi.com/caselaws?id=51719 Mandatory penalty under Rule 57-I(4) of the Central Excise Rules, 1944 was not attracted because the duty had already been paid before issue of the show cause notice, so the statutory conditions for invoking that penalty were absent. The appellate authority's reduction of penalty from the amount equal to the disallowed Modvat credit to a lesser sum was therefore left undisturbed, and the Revenue's challenge to that reduction failed. In the absence of any cross-objection by the assessee, the reduced penalty was treated as accepted. en-us Wed, 18 Sep 2002 00:00:00 +0530 Mon, 27 Sep 2010 17:56:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51719 Mandatory penalty under Rule 57-I(4) of the Central Excise Rules, 1944 was not attracted because the duty had already been paid before issue of the show cause notice, so the statutory conditions for invoking that penalty were absent. The appellate authority's reduction of penalty from the amount equal to the disallowed Modvat credit to a lesser sum was therefore left undisturbed, and the Revenue's challenge to that reduction failed. In the absence of any cross-objection by the assessee, the reduced penalty was treated as accepted. Case-Laws Central Excise Wed, 18 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51719