9911796707
TMI Blog1996 (11) TMI 209X X X X Extracts X X X X X X X X Extracts X X X X ..... e in the appeal relates to levy of penalty on the appellants for the reason that they had taken Modvat credit wrongly in respect of certain inputs. The amount involved is Rs. 4,70,007.43. 2. The learned Counsel has sought for an adjournment. Since the issue lies in a short compass and the appellants have admitted having made double entries in respect of the Modvat credit and the issue to b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r 5000 every month involving large amounts of Modvat credit and urged that these few instances of mistakes made should be taken to be human errors. 4. The learned DR has pleaded that the deptt. has placed trust in the assessees under the SRP scheme and the appellants are required to put their systems in position in a satisfactory manner and they are expected to have their own check system to ens ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... errors. Obviously their system requires modification. The appellants should have their own internal audit system to detect such errors. It has not been brought to our notice that such a system exists to ensure detection of such double entries within a reasonable time. In the present case, the learned DR has pleaded that the appellants had enjoyed the benefit of additional credit over a couple of m ..... X X X X Extracts X X X X X X X X Extracts X X X X
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