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2010 (2) TMI 971 - HC - Central ExciseWhether the Tribunal is justified in reducing the penalty to 25% of the duty leviable on the respondent? Held that:- Since the respondent-assessee was challenging the levy of penalty under Section 11AC of the Act up to Tribunal and for the first time the Tribunal had reduced the penalty under Section 11AC of the Act to the extent of 25% of the duty amount on the ground that the duty amount was paid by the respondent-assessee much before the issuance of show cause notice, we direct the adjudicating authority to call upon the respondent-assessee to pay the penalty as reduced by the Tribunal and also the interest amount, if any, under Section 11AB of the Act, within 30 days from the date of receipt of communication, failing which the respondent-assessee would be liable/to pay penalty under Section 11AC to the extent of 100% of the duty amount. In this view of the matter, no interference is called for in the order of the Tribunal.
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