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2004 (8) TMI 123 - AT - Central Excise
Extract:
.......impugned order to the extent that it disallows Modvat credit of Rs. 19,89,464/- taken by the appellants herein during the period from 23-6-1998 to 4-8-1998 against demand made in the DEPB Book. However, having regard to the totality of the facts and circumstances of the case, we reduce the penalty to Rs. 2 lakhs. The appeal is thus, partly allowed.