1999 (9) TMI 298 - AT - Central Excise

Summary

The appeal was against denial of Modvat credit of Rs. 1,60,20,676/- and a penalty of Rs. 5 lakhs. The appellants were not pressing for credit of Rs. 40,21,701/- and Rs. 22,91,119/-, and only disputed Rs. 24,869.95. The Tribunal allowed the credit on ACSR conductors, cables, insulators and reduced the penalty to Rs. 20,000.