Prior to 01-03-2007, no penalty was leviable on issuance of Cenvatable invoices without actual deliv

Excise & Customs : Where assessee had issued Cenvatable invoices without actual delivery of goods prior to 1-3-2007, no penalty could be imposed under rule 26(2) of Central Excise rules, 2002 and further, no penalty could be imposed under rule 25(1)(b), as alleged goods were never manufactured