2002 (4) TMI 776 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, New Delhi upheld a penalty of Rs. 2 lakhs on iron and steel manufacturers under Rule 209 of the Central Excise Rules, 1944. The penalty was reduced to Rs. 2,000 as discrepancies in accounts were due to failure in maintaining correct records, not intent to evade duty.