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2011 (2) TMI 994 - AT - Central ExcisePenalty under Section 11AC - Clandestine removal - the penalties imposed upon the director and the other merchant manufacturer - Held that:- While upholding the confirmation of demand of imposition of penalty to the extent of 100%, an option given to the appellant to deposit the entire duty, interest and 25% of penalty within a period of thirty days from today, in which case the penalty shall stand reduced to 25%. As admittedly the clandestine activities were being carried out with the consent and knowledge of the director as also with the active involvement of the merchant manufacturers, thus making them liable to penalties in terms of Rule 26 of Central Excise Rules - As the penalties have already been reduced, no further interference is called for in the quantum of penalties imposed upon the said appellants - Their appeals are accordingly rejected.
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