1999 (11) TMI 383 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Mumbai granted waiver of pre-deposit and reduced penalty from Rs. 1,08,045 to Rs. 20,000 for manufacturers of steering wheels and gear bodies who inadvertently cleared goods without paying duty due to a mistaken understanding of an amendment. The tribunal emphasized the penalty should be sufficient to remind the assessees of their obligations under the law.