2003 (2) TMI 77 - SC - Central Excise

Summary

The Supreme Court heard an appeal against the Customs, Excise and Gold (Control) Appellate Tribunal's order. The Department's appeal regarding penalty under Section 11AC of the Central Excise Act was dismissed. A related Civil Appeal clarified the value of goods sold but did not address the penalty amount reduction issue. The Tribunal will decide on duty and penalty payment in the pending assessee's appeal. The Court did not express an opinion on whether the penalty should be equal to the duty amount.