https://www.taxtmi.com/caselaws?id=53597 The Appellate Tribunal CESTAT, Mumbai, modified its earlier order in response to an application for rectification of mistake. The Tribunal upheld the denial of Modvat credit to the appellant, agreeing that allowing the credit would result in a double benefit. The penalty under Section 11AC was reduced, and penalties on the Managing Director were set aside. The appellant had reversed the credit after receiving an insurance claim, eliminating any further demand against them. The Tribunal's final order was modified to reflect these adjustments. en-us Fri, 19 Nov 2004 00:00:00 +0530 Thu, 14 Oct 2010 11:59:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53597 The Appellate Tribunal CESTAT, Mumbai, modified its earlier order in response to an application for rectification of mistake. The Tribunal upheld the denial of Modvat credit to the appellant, agreeing that allowing the credit would result in a double benefit. The penalty under Section 11AC was reduced, and penalties on the Managing Director were set aside. The appellant had reversed the credit after receiving an insurance claim, eliminating any further demand against them. The Tribunal's final order was modified to reflect these adjustments. Case-Laws Central Excise Fri, 19 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53597