2008 (7) TMI 423

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... g identically worded questions in both the appeals : "(a) Whether in the facts and circumstances of the case, the Tribunal is justified in holding that there was no allegation of deliberate act or omission on the part of the respondent for wrongly taking credit and holding it to be case of bona fide mistake, subsequently rectified despite evidence on record as regards wilful and wrongful availmen .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... hereafter the assessee paid the duty involved. While the original authority has chosen the duty already reversed by the assessee, imposed equal penalty and confirmed the interest of Rs. 4,65,936/-. Findings of the Commissioner (Appeals) for reducing the penalty and not confirming the interest are as follows :  'Now, I decide this appeal finally. I find from the records that the appellant had .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... bmissions of the appellant, the balance of convenience is in favour of appellant and clearly substantiates that there was no mala fide intention. However, I find that the appellant had taken wrong modvat credit and thereby violated the provisions of Modvat Rules of C. Ex. Rules, 1944. In view of my findings above, I reduce the penalty from Rs. 33,58,344/- to Rs. 1,00,000/- only.' (4) There is no .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... erial on the basis of which it is alleged that the assessee knowing well has taken Modvat credits wrongly. Till date, no material has come on record. Despite the matter having been called out thrice, the learned counsel for the appellant is absent at all the three calls. The request made on behalf of the learned counsel to pass over the matter was granted twice. 4. In the aforesaid circumstances, .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... period and the said fact has not been disputed. 5. If, in the light of the aforesaid findings of fact, the Tribunal has come to the conclusion that this is basically a case of bona fide mistake which has been subsequently rectified, the High Court does not find any error of law which would warrant interference. Primarily, the matter has been decided on the basis of the facts and evidence on recor .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X