2005 (11) TMI 286

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..... is an appeal filed by the Revenue against Order-in-Appeal passed by the Commissioner (Appeals) in the case of M/s. Marvel Industries Ltd., who are engaged in the manufacture of HDPE bags, sacks, fabrics etc., availing Modvat credit on inputs. A Show Cause Notice was issued to them on 13-2-2002, demanding Rs. 6,90,486/- (Rupees Six Lakhs Ninety Thousand Four Hundred Eighty-Six only) for not reversi .....

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..... me, it will not be just and fair to invoke the provisions of Section 11 AC for imposition of penalty". 3. The ld. Advocate reiterates that there are no provisions in Modvat scheme for the reversal of the credit under the Central Excise Law. Even then, as a responsible tax-payer, they had reversed their credit, once they came to know of their liability. Thus, they had paid duty long before th .....

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..... re no provisions under the Central Excise Law for reversal of the credit to facilitate availment of Duty Drawback. It is on record that the respondent had co-operated with the department and reversed the credit taken without even waiting for the issue of the Show Cause Notice. Following judicial discipline with reference to the decision of the Larger Bench cited in Para (3) above and also taking i .....

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