2004 (1) TMI 453

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..... In this appeal filed by the appellants against the impugned order-in-appeal, the imposition of penalty under Section 11AC has been questioned. 2. The facts are not much in dispute. The Officer of the Central Excise at the time of checking on 11-12-98 found shortage of modvatable inputs. The appellants reversed the Modvat credit as detailed in the order-in-original, as the shortage was admitted .....

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..... by invoking extended period of limitation or not, is not required to be gone into, when appellants have admitted their liability and already reversed the credit. 4. However, penalty in my view under Section 11AC could not be imposed as it is not a case of non-payment or short payment of duty by the appellants so as to attract the provisions of said section. It is a case of only wrong availment o .....

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