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2004 (3) TMI 209 - AT - Central ExciseExtract: .......the Modvat credit of Rs. 6,32,291/- reversed by them is hit by the limitation of time bar. Finally, as the lower authority has not recorded any grounds of having contravened the provisions of Modvat rules, and had allowed the Modvat credit on merits, imposition of a penalty of Rs. 5,000/- under Rule 173Q was legally proper, correct and sustainable.
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