2002 (2) TMI 1013 - AT - Central Excise

Summary

The appeal was filed against the denial of Modvat credit amounting to Rs. 3,52,445.00 for sockets used in the manufacture of the final product. Appellants failed to account for 3,02,398 sockets, leading to the denial of credit. Penalty reduced to Rs. 50,000. Appeal disposed of accordingly.