2001 (7) TMI 462 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Mumbai ruled in favor of the appellant, a Public Sector Corporation manufacturing Petroleum product, regarding the imposition of penalties and recovery of interest under Sections 11AB and 11AC of the Central Excise Act, 1944. The Tribunal set aside the orders of penalty and interest imposed under these provisions. However, a penalty of Rs. 20,000 under Rule 173Q was upheld as the goods were cleared at a lower rate, constituting a contravention. The appeal was decided accordingly, and the stay application was disposed of.