2002 (1) TMI 583

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..... Brahma Deva, Member (J)]. This is an appeal filed by the appellants, M/s. Bharat Heavy Electricals Ltd., Hyderabad. 2. Shri M. S. Rajappa, Consultant appearing for the appellants submitted that the party has filed this appeal with reference to imposition of penalty. He said that the penalty has been imposed on the ground that an alleged misuse of Modvat credit on account of inputs having b .....

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..... nd, Shri Narasimha Murthy, JDR appearing for the Revenue submitted that the penalty in the instant case was not imposed in terms of Section 11AC of Central Excise Rules, 1944 in the respective order. The penalty was imposed under Rules 57-I(4) and 57U(6) of the Central Excise Rules, 1944 taking into account the duty element from 1996-97 onwards. 4. We have carefully considered the matter. The is .....

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