2001 (7) TMI 439 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, New Delhi reduced the penalty imposed on M/s. La Chem Pharmaceuticals (P) Ltd. from Rs. 19,88,497 to Rs. 10 lakhs and on Shri S.S. Nandwana, Managing Director from Rs. 1 lakh to Rs. 50,000 for wrongly availing Modvat credit based on fake documents. The duty demand was confirmed. Both appeals were rejected after the penalty reduction.