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2015 (12) TMI 805 - HC - Central ExcisePenalty u/s 11AC - Invocation of extended period of limitation - Held that:- Actual tax amount itself required to be re-determined as the matter has been remanded back to the adjudicating authority. In other words, the very tax demand itself is likely to workout to meager amount - what all the Tribunal has done is given a direction to the adjudicating authority in view of the facts of the case to take into consideration and limit the penalty not to exceed 10% of the tax demand. In such circumstances, we do not find any infirmity with the order of the Tribunal and we may also notice the very question raised in the present case would become academic in view of the fact that Section 11AC came to be substituted by Finance Act, 2011 with entirely new provisions where different rates of penalties have been prescribed. - Decided against Revenue.
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