2013 (9) TMI 955

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....espondent. JUDGMENT We have heard Mr. Gaurang Bhatt, learned standing counsel appearing for Central Excise, Customs and Service Tax department. This Tax Appeal has been admitted on the following proposed substantial question of law. "Whether the Tribunal below committed substantial error of law in granting option to the assessee to deposit the entire dues along with 25% interest of penalt....

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....redit to the extent of Rs. 7,77,655/- stand availed by the assessee, in excess of their entitlement, inasmuch as the same was availed without any valid duty paying documents or the documents were more than 6 month old. On being questioned, the respondent admitted their liability to pay said MODVAT credit and in fact, they debited the same. The same, accordingly, stand confirmed by the lower author....