TMI Blog2002 (1) TMI 132X X X X Extracts X X X X X X X X Extracts X X X X ..... on the ground that the penalty imposed in the impugned order is not in conformity with provisions of Section 11AC of the Central Excise Act inasmuch as the penalty imposed is not equal to the amount of duty evaded. The appeal contends that penalty equal to the duty determined is mandatory under Section 11AC and that there is no discretion in the adjudicating authority to impose a lower penalty. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d Northeast of the country, the appellants' local offices had circulated some higher, revised MRPs, which were different from the MRPs printed on the packages of Colour Television Sets. Thereupon, the respondents paid the differential Central Excise Duty based on the higher MRPs indicated in the circulars in respect of the goods cleared for the period 1-4-98 to 19-12-98. Through the present cross- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... goods shall be liable to confiscation and the manufacturer, producer or license of the warehouse, as the case may be, shall be liable to a penalty not exceeding three times the value of the excisable goods in respect of which any contravention has taken place." 4. In this case, the Tribunal has exercised its discretion and reduced the quantum of penalty. The Revenue seeks reference of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nvasses a legal position to the contrary, it has no merit. 5. We are not able to find any force in the cross objection also inasmuch as the appellant had accepted their liability for the differential duty and had made good the amount during the investigation itself. After agreeing to the liability during the investigation itself and not contesting the demand in the adjudication proceeding ..... X X X X Extracts X X X X X X X X Extracts X X X X
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