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2011 (4) TMI 323 - SC - Central ExciseQuantum of penalty - Provisions of Section 11AC - Delay of one or two days in making payment of duty - penalty was reduced to Rs. 1 lakh as against Rs. 17,06,632/- refer to the decision of the Division Bench of this Court in Union of India v. Rajasthan Spinning and Weaving Mills and Commissioner of Customs and Central Excise v. Lanco Industries Ltd. reported in (2009 -TMI - 33419 - SUPREME COURT OF INDIA), the Tribunal was not justified in reducing the quantum of penalty to only Rs. 1 lakh in view of the mandatory provisions of Section 11AC of the Central Excise Act.
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