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2001 (8) TMI 176 - CEGAT, MUMBAIExtract: .......uction of Modval credit on capital goods and they were under the bona fide belief that these two items on which Modvat credit is disallowed by us, were eligible to credit under Rule 57Q of the Central Excise Rules. Hence, we see no reason for sustaining any part of the penalty and accordingly, we set aside the same. 5.Appeal is thus partly allowed.
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