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2009 (9) TMI 814 - AT - Central ExcisePenalty u/r 209A of the erstwhile Central Excise Rules, 1944 and Rule 26 of Central Excise Rules, 2001 - Held that: - the appellant was not only engaged in issuing cenvatable invoices without any physical movement of the goods in the name of his firms but also he was settling the accounts of other registered dealers/washer manufacturing units, who had supplied invoices to M/s. Asian Alloys Ltd. without any physical movement of the goods - the goods supplied by the registered dealers and washer manufacturing units were diverted, which are liable to confiscation - penalty u/r 26 of the Rules is justified - we reduce the penalty from ₹ 50,00,000/- to ₹ 10,00,000/- - decided partly in favor of appellant.
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