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2012 (9) TMI 781 - KARNATAKA HIGH COURTWhether penal provisions can survive against the assessee when demands are dropped on any account - demand dropped on ground that CENVAT Credit cannot be denied on account of incorrect depreciation claimed initially and later rectified, however penal action sustained on ground that admitted mistake by assessee cannot escape penal action - Held that:- It is settled law that once the demands are dropped, then in such a situation, the question of imposing the penalty does not arise - Decided in favor of assessee.
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