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2009 (8) TMI 991 - AT - Central ExcisePenalty - the entire duty had been paid prior to the issue of show cause notice - Held that: - this is a case of clandestine removal and the elements of Section 11AC for imposition of penalty under 11AC are present - As regards penalty on the Managing Director, in view of the fact that this is a case of clandestine removal of the finished goods and the same was with his knowledge and approval, the Asstt. Commissioner rightly imposed penalty on him and the Commissioner (Appeals) order setting aside the penalty is not correct. - since the penalty under Section 11AC has been reduced to 25% of the duty amount, the penalty on Shri Shailendra Khandelwal, Director of the respondent-company is also reduced to ₹ 5,000/-. - appeal allowed - decided partly in favor of Revenue.
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