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2011 (7) TMI 736 - AT - Central ExciseDemand - Rule 25 of CER, 2002 - Voluntary payment of duty - on the ground that they purchased the MS ingots without documents - appellants did not challenge the confirmation of demand - The director Manoj Arya who looks after day today work of the factory in his statement recorded under Section 14 of CEA 1944 recorded on 6.5.2005 has voluntarily admitted that they have received 300MT ingots from M/s. Amar Ispat without cover of Central Excise invoice without payment of duty Regarding penalty - The only contention of the appellants is that no option has been given to them to pay penalty of 25%. Ld. JDR has countered the contention on the ground that appellants have not paid interest in this case - In find force in the contention of the appellants that interest was not quantified and no option was given to them for payment of reduced penalty - Decided in favor of the assessee Regarding penalty to director - there is no dispute that the director has made a confession statement admitting the offence I find force in the contention of the department that penalty under Rule 25 is subject to the provisions of Section 11AC which is not the case with penalty under Rule 26 - Penalty is reducet to Rs. 1 Lakh
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