https://www.taxtmi.com/caselaws?id=52806 During the period of forfeiture of the fortnightly duty payment facility under Rule 173G(1)(e), "account current" was construed to mean PLA only, not utilisation of Cenvat credit, because the clause was treated as a restricted and penal provision. Duty paid by debiting Cenvat credit during that period was therefore contrary to the rule and attracted the statutory consequences of clearance without payment of duty. Interest and penalty were held sustainable, although the penalty was reduced to Rs. 1 lakh. The assessee obtained only partial relief on quantum, not on liability. en-us Wed, 21 Apr 2004 00:00:00 +0530 Tue, 18 Jun 2024 14:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=52806 During the period of forfeiture of the fortnightly duty payment facility under Rule 173G(1)(e), "account current" was construed to mean PLA only, not utilisation of Cenvat credit, because the clause was treated as a restricted and penal provision. Duty paid by debiting Cenvat credit during that period was therefore contrary to the rule and attracted the statutory consequences of clearance without payment of duty. Interest and penalty were held sustainable, although the penalty was reduced to Rs. 1 lakh. The assessee obtained only partial relief on quantum, not on liability. Case-Laws Central Excise Wed, 21 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=52806