2004 (11) TMI 383

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....R, for the Respondent. [Order (Oral)]. - After examining the records and hearing both sides, I find that the lower authorities denied Modvat credit of Rs. 22,432/- to the assessee for the period April'01 - Jan'02 and also imposed on them a penalty of Rs. 2.35 lacs. It is also noticed that, in the same assessee's case for a prior period, this Tribunal held that they had no intention to evade ....