https://www.taxtmi.com/caselaws?id=51858 The Tribunal ruled in favor of M/s. Grasim Industries Ltd., overturning the penalty imposed by the Commissioner for the removal of inputs as such and payment of duty. The Tribunal held that the payment at the time of removal of inputs or capital goods as such constitutes duty as per Rule 57AB(1B), contrary to the Commissioner's argument based on sub-rule (1C). Given the Appellants' compliance with Cenvat credit requirements and the lack of justification for the penalty, the Tribunal allowed the appeal. en-us Mon, 07 Apr 2003 00:00:00 +0530 Tue, 28 Sep 2010 18:42:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=51858 The Tribunal ruled in favor of M/s. Grasim Industries Ltd., overturning the penalty imposed by the Commissioner for the removal of inputs as such and payment of duty. The Tribunal held that the payment at the time of removal of inputs or capital goods as such constitutes duty as per Rule 57AB(1B), contrary to the Commissioner's argument based on sub-rule (1C). Given the Appellants' compliance with Cenvat credit requirements and the lack of justification for the penalty, the Tribunal allowed the appeal. Case-Laws Central Excise Mon, 07 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=51858