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2012 (8) TMI 471 - CESTAT, CHENNAIPenalty u/s 11AC for belated payment of excise duty during the period January, 2009 to March, 2009 - belated filing of returns during period January, 2009 to June, 2009 - assessee pleaded financial crisis - Held that:- It is no doubt that the appellant did not pay duty in time, they also did not file the return in time, but when they filed the return and thereafter they made the payment of entire amount of duty along with interest. Therefore, penalty u/s 11AC is dropped but, as the appellant has contravened the provisions of law, they are liable to pay the penalty under Rule 27 of the Central Excise Rules, 2002 - Appeal is partly allowed with consequential relief.
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