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2015 (10) TMI 1239 - AT - Central ExciseImposition of penalty u/s 11AC - Shortage of goods - Held that:- So far as not extension of option of 25% reduced penalty under Section 11AC of the Central Excise Act, 1944 is concerned, it is observed from the O.I.O. Dated 21.05.2012 that no such option has been extended to the appellant by the adjudicating authority. In view of the settled proposition of law on this issue option of 25% reduced penalty is extended to the appellant under Section 11AC of the Central Excise Act, 1944, if the same is paid within 1 month from the receipt of this order. - Penalty of ₹ 25.000/- imposed upon the Director is reduced to ₹ 10,000.
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