https://www.taxtmi.com/caselaws?id=51741 The Tribunal upheld the disallowance of Modvat credit but reduced the penalty amount to Rs. 10 lac, stating that interest would be payable as per the law. The appellant's explanation regarding Modvat credit and the Department's claim of suppression of facts led to an extension of the limitation period under relevant provisions of the Central Excise Act and Rules. The Tribunal affirmed the disallowance of Modvat credit, penalty imposition, and interest payment, ultimately disposing of the Stay Petition and Appeal in the specified terms. en-us Tue, 10 Sep 2002 00:00:00 +0530 Tue, 28 Sep 2010 09:59:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51741 The Tribunal upheld the disallowance of Modvat credit but reduced the penalty amount to Rs. 10 lac, stating that interest would be payable as per the law. The appellant's explanation regarding Modvat credit and the Department's claim of suppression of facts led to an extension of the limitation period under relevant provisions of the Central Excise Act and Rules. The Tribunal affirmed the disallowance of Modvat credit, penalty imposition, and interest payment, ultimately disposing of the Stay Petition and Appeal in the specified terms. Case-Laws Central Excise Tue, 10 Sep 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51741