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2003 (11) TMI 216 - AT - Central ExciseExtract: .......estrictions of six months came into effect on 29-6-95. Accordingly, penalty is imposable on the Appellants. The total amount of MODVAT credit wrongly taken by the appellants is more than Rs. 9 lakhs and in our view penalty of Rs. One lakh is justified. We, therefore, reduce the penalty to Rs. One lakh. The appeal is disposed of in the above manner.
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