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M/s. M.M. Forgings Ltd. v/s Commissioner of Central Excise, Trichy

    E/366 of 2003/MAS

    Decided On, 16 October 2009

    At, Customs Excise Service Tax Appellate Tribunal South Zonal Bench At Chennai

    By, THE HONOURABLE DR. CHITTARANJAN SATAPATHY
    By, TECHNICAL MEMBER

    Sh. R. Masillamoney, Const. Sh. T.H. Rao, SDR.



Judgment Text

Heard both sides.



2. Shri R. Masillamoney, ld. Consultant appearing for the appellants states that the appellants have already reversed the impugned credit and that the equal amount of penalty imposed under Section 173Q is unduly harsh. Considering the facts of the impugned goods only were cleared to the sister unit of the appellants.



2. Heard Shri T.H. Rao, ld. SDR for the Revenue.


3. In view of the fact that the penalty in this case has been imposed under Rule 173Q and keeping in view that the appellants have not challenging the duty liability and have reversed the excess credit taken, the penalty imposed is reduced to Rs.50,000/- (Rupees fifty thousand only). The amount of predeposit of Rs.10,000/- (Rupees ten thousand) made earlier can stands adjusted agains

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t the penalty amount determined now. 4. The appeal is partly allowed.
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