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2016 (12) TMI 1461 - AT - Central ExciseClandestine removal of finished products - 94.500 MT of M.S. Angles - Held that: - Since the Director has categorically admitted non-accountal of raw-material and clandestine removal of the finished goods and the statements has not been retracted before the Central Excise Officers, I am of the view that Central Excise duty alongwith interest and penalty confirmed against the appellant by the authorities below is proper and justified - since the entire duty alongwith interest is paid within one month from the date of receipt of the Adjudication Order, the benefit of reduced amount of penalty provided under Section 11AC of the Central Excise Act, 1944 should be available to the appellant - quantum of penalty reduced to 25% - appeal allowed - decided partly in favor of appellant.
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