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2002 (6) TMI 120 - CEGAT, NEW DELHIExtract: .......it is generally sufficient to prove that a default in complying with the statute has occurred . However, the fact of reversing Modvat credit immediately on being pointed out by the Officers will certainly have an impact on the quantum of penalty. I, therefore, reduce the penalty from Rs. 1 lakh to Rs. 40,000/-. 6. The Appeal is thus allowed partly.
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