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2016 (10) TMI 277 - SC - Central ExciseQuantification of penalty - power to tribunal to reduce the penalty u/s 11AC below the amount of confirmed duty - Held that:- on the basis of language of Section 11AC of the Act, the submission of the revenue is meritorious. - the Tribunal could not reduce the penalty for an amount lesser than the duty which has been upheld. The duty in respect of two demands comes to ₹ 40,44,720/-. Therefore, going by the provisions of Section 11AC of the Act, the penalty should also have been ₹ 40,44,720/- and not ₹ 20 lakhs. - Decided in favour of Revenue
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