9911796707
TMI Blog2008 (7) TMI 326X X X X Extracts X X X X X X X X Extracts X X X X ..... h a view to come out from the consequence of imposition of the penalty - stand of the petitioner that in absence of the certificate issued or inaction on the part of the Department for issuance of the certificate as per the Scheme, the penalty could not be imposed also lacking bona fide – appeal rejected - 11342 of 2007 - - - Dated:- 9-7-2008 - Jayant Patel, J. Shri Paresh M. Dave, for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hin Desai, learned Standing Counsel appearing for the respondents. 3. The contention raised on behalf of the petitioners is that the petitioners had reversed the Modvat credit and the same was accordingly communicated vide letter dated 14th July, 1995. Thereafter, as the Amnesty Scheme was declared by the Government of India in the year 1997, it was required for the Customs and Excise Departme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ormally the record is being preserved for five years only and it has also been submitted that the alleged reverse credit of the Modvat is of the year 1995 and at that time, there was no Amnesty Scheme prevailing and the same came to be introduced in the year 1997 only. It has been submitted that thereafter no further steps are taken and the penalty is imposed by D.G.F.T. -respondent No. 2 herein a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ted the petitioners to pursue the matter well in time even if any rights were to accrue based on the alleged communication dated 14-7-1995. 6. Apart from the above, the last correspondence made by the petitioner based on the so-called reverse Modvat credit is also of 2002 and thereafter for a period of about five years, no action whatsoever has been taken by the petitioners. 7. Under these ..... X X X X Extracts X X X X X X X X Extracts X X X X
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