2001 (4) TMI 485 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, New Delhi heard an appeal against a penalty imposed under Rule 173Q of the Central Excise Rules. The appellants availed Modvat credit based on invoices issued six months prior, which was objected by revenue. The penalty was reduced to Rs. 5,000 from Rs. 1,00,000 due to contravention of Rule 57Q. The appellants' contention of no malafide intention was considered but penalty upheld. (Case citation: 2001 (4) TMI 485 - CEGAT, New Delhi)