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2009 (1) TMI 113 - HC - Central Excise
Whether, tribunal is justified in reducing the mandatory penalty levied u/s 11AC - Tribunal has reduced the penalty to 25% of the sum - admittedly, assessee has complied with the first proviso of Section 11AC by paying the amount prior to the raising of demand - Accordingly, the equivalent penalty under Section 11AC of the Act shall stand reduced to 25% if the assessee complies with requirement of second proviso to Section 11AC – no infirmity in tribunal’s order of reducing the penalty