2003 (12) TMI 428

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.... Appellant. Shri A.K. Mondal, SDR, for the Respondent. [Order per : Archana Wadhwa, Member (J)]. - After hearing Shri B.J. Mookherjee, ld. Advocate for the appellants and Shri A.K. Mondal, ld. SDR, for the Revenue, we find that vide his impugned order, the Commissioner of Central Excise, Bolpur has rejected the Cenvat credit of Rs. 49,26,266.00 availed by the appellants on the inputs duri....

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....nts and was also paid by them even before the issuance of the show cause notice. However, he submits that in the facts and circumstances of the case, the imposition of high penalty equivalent to the duty amount is not justified inasmuch as the appellants being public sector undertaking did not have any mala fide intention to evade duty. Accordingly, he prays that the stay petition as also appeal b....