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2002 (1) TMI 92 - AT - Central ExciseExtract: .......red. Since the final product is now exempt from duty, the Modvat credit taken can be reversed. To that extent the impugned order is upheld, but there is no reason for recovering any amount by way of duty on this count or imposition of penalty or recovery of interest. Imposition of penalty and interest is set aside. The appeal stands partly allowed.
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