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2010 (2) TMI 494 - HC - Central ExcisePenalty - Whether in the facts and circumstances of the case, the Tribunal has committed a substantial error of law in reducing the mandatory penalty imposed on the respondent assessee under Section 11AC of the Central Excise Act, 1944 to the extent of 25% despite having confirmed the duty on account of clandestine removal and evasion of Central Excise duty? Held that - when duty amount is paid before issuance of SCN, the penalty is reduced to 25% of duty amount. If duty amount with interest is not paid in time and even reduced penalty of 25% of duty amount is not paid in time and option is not given to respondent assessee, such option should be given to assessee and period of 30 days would commence from the date of giving such option.
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