2003 (5) TMI 449 - AT - Central Excise

Summary

The Appellate Tribunal CESTAT, Mumbai heard a case where the appellants had initially taken credit on electric motors used for duty-free supply but later reversed the credit. The demand of 8% on the value of exempted goods was set aside as the credit was reversed. However, a penalty of Rs. 5,000 was imposed for violating provisions. The appeal was allowed with modified orders.