2004 (5) TMI 373

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....he Appellant. Shri K.L. Bablani, Jt. CDR, for the Respondent. [Order per : Archana Wadhwa, Member (J)]. - The miscellaneous application is for rectification of Order No. C-II/185-86/WZB/2003, dated 23-1-2003 [2003 (160) E.L.T. 404 (Tribunal)] passed by the Tribunal vide which personal penalty of Rs. 60,000/- was reduced to Rs. 20,000/- while confirming the reversal of Modvat credit of Add....

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....ant case as the period involved is from August 1994 to December 1996, whereas the said section came into existence on 28-9-1996. We agree with the appellant that it is now well settled that the said section is not retrospective. As such, the confirmation of interest for the period prior to 28-9-1996 is not called for. Accordingly, we modify the impugned order and set aside that part of the impugne....