2002 (4) TMI 854 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Mumbai confirmed a duty demand of Rs. 16,98,52,336/- and imposed penalties under Sec. 11AC of the Central Excise Act and Rule 173Q of the Central Excise Rules. The duty demand was based on under valuation of C2C3 (Ethane Propane) manufactured and cleared by the applicants. The Tribunal waived pre-deposit of penalty due to a strong prima facie case for waiver on the aspect of limitation.