2009 (7) TMI 294

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..... Shri V.R. Mori, learned Consultant, appearing on behalf of the appellant and Shri S.K. Mall, learned SDR, appearing for the Revenue, I find that the Modvatable input stock of the appellant was destroyed on account of heavy rains. The appellants reversed the credit of duty so availed in respect of said input. The dispute in the present appeal relates to only interest of Rs. 32,530/- and penalty of .....

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..... d that there was no mala fide on the part of the assessee and loss of the goods was on account of natural cause. Tribunal in case of Asian Paints (I) Ltd. v. CCE, Mumbai - 2004 (173) E.L.T. 187 (Tri.-Mum.), has held that imposition of penalty in such circumstances is not called for. By following the above decision, I set aside the penalty imposed upon the appellant. 4. In a nut-shell, appeal is a .....

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