2003 (4) TMI 174

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....l No. 666/2002, dated 31-1-2002 passed by the Commissioner of Central Excise, Bangalore. The appeal is also accompanied with the stay application for the waiver of pre-deposit of penalty of Rs. 1,54,499/- under Rule 57U(6) read with 173Q and interest under Rule 57U(8). 2. After hearing for some time with reference to the stay petition filed by the party, I felt that the matter itself can be dispo....

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....g for the Revenue drew my attention to the observation made by the adjudicating authority that on being pointed out by the Department, the assessee had reversed the credit on 5-9-2000. She said that though the credit was lying in the relevant registers it was reversed only after being pointed out by the Department and accordingly she justified the action of the department in imposition of penalty ....