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2017 (4) TMI 837 - AT - Central ExciseMODVAT credit - whether the appellant-assessee is entitled to Modvat Credit and set of the input tax credit with the output tax assessed for the period April, 1999 to August, 1999? - whether penalty of ₹ 2 lakhs have been rightly imposed u/r 173Q of CER 1944? - Held that: - Modvat Credit is deniable only in case of fraud and contumacious conduct on the part of assessee. That being not the case, the Ld. Commissioner have erred in denying the benefit of Modvat/Cenvat Credit to the appellant - the issue is remanded to the learned Commissioner to allow the Modvat claim after verification of the claim amount in accordance with law. Penalty u/r 173Q of CER, 1944 - Held that: - there is no contumacious conduct and/or suppression of facts on the part of the appellant. Therefore, no penalty is imposable under the provisions of Rule 173Q of CER, 1944. Appeal allowed by way of remand.
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