2003 (3) TMI 190

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....impugned order-in-appeal dated 12-6-2002 vide which the Commissioner (Appeals) has affirmed the order-in-original of the Deputy Commissioner disallowing the Modvat credit of Rs. 2,08,500/- and imposing penalty of Rs. 10,000/-, on the appellants. 2. The facts are not much in dispute. The appellants availed the Modvat credit of the above said amount on 30-6-99 in respect of the capital goods unde....

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....ny provision of the Central Excise Act or Rules framed thereunder, under which the re-credit of the Modvat credit could be taken suo motu by the appellants when earlier they had already debited the same. The Counsel has only referred to the case of Indo-American Electricals Ltd. v. Commissioner of Central Excise, Bolpur - 1999 (108) E.L.T. 797 wherein it has been observed that re-crediting of the ....