2000 (12) TMI 385

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....he Respondent. [Order]. - The issue involved in the appeal, filed by Revenue is whether penalty is imposable and interest is chargeable from M/s. Vacment Packagings (India) Pvt. Ltd. for availing wrong Modvat credit. 2. When the matter was called, no one was present on behalf of the respondents. In fact the respondents under their letter dated 2-3-2000 have requested to dispose of th....

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....sions made by respondents in their letter dated 2-3-2000. The ld. DR is right in submitting that the penalty is imposable as the respondents wrongly availed of Modvat credit and the penalty imposed of Rs. 2,000/- was not on higher side also. Accordingly, the penalty as imposed by the Assistant Commissioner of Rs. 2,000/- is restored. The interest under Rule 57-I (3) cannot be demanded where an ass....