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2013 (11) TMI 695 - AT - Central ExciseDelay in the payment of duty as per Rule 8 of the Central Excise Rule 8(1) of 2002 - Penalty under Rule 27 – Held that:- The lapse admitted by the assessee and the duty was subsequent paid along with interest - Payment of interest is penal in action and is in the nature of compensation for the loss of Revenue - when the goods already stands cleared by the assessee and are no longer available for confiscation, imposition of redemption fine was neither justified nor warranted, as correctly held by first appellate authority - Relying upon COMMISSIONER OF C. EX. & CUSTOMS V/s SAURASHTRA CEMENT LTD. [2010 (9) TMI 422 - GUJARAT HIGH COURT] – there was no infirmity in the order – Decided against Revenue.
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