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2010 (9) TMI 1066 - HC - Central ExciseWhether CEGAT was right in reducing the penalty imposed under section 11AC of the Act, which otherwise is mandatory and should be equal to the amount of duty short levied and confirmed? Held that: - in view of judgment of the Hon’ble Supreme Court in Union of India v. Rajasthan Spinning and Weaving Mills, [2009 (5) TMI 15 - SUPREME COURT OF INDIA] and plain language of Section 11AC of the Act, penalty equal to the amount of duty evaded is mandatory - Since the effect of judgment relied upon and mandate of the statutory provision has not been gone into by the Tribunal, the order of the Tribunal will require re-consideration - petition allowed by way of remand.
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