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2018 (8) TMI 1001 - AT - Central ExcisePenalty u/s 11AC - suppression of facts - goods manufactured by 100% EOU and cleared to DTA - whether the provisions of Customs Act or Central Excise Act for Valuation will apply? - Held that:- The demand was raised invoking the extended period. The ingredient for invoking the extended period as well as for penalty under Section 11AC is same. It is also fact that the appellant have not disclosed that they have not declared to the department that the goods were cleared to the related person, therefore, there is a suppression of fact accordingly, the penalty under Section 11AC is maintainable. Penalty reduced to 25% subject to condition that the amount of duty confirmed, interest and 25% penalty stand paid within one month from the date of receipt of this order - appeal allowed in part.
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