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2017 (12) TMI 496 - AT - Central ExcisePenalty u/r 15 of CCR 2004 - Held that: - penalty is normally imposed to correct a delinquent assessee. It is not compensatory in nature, like interest. It is settled law that penalty is imposed only in case of deliberate defiance of law, like suppression of facts with intention to evade payment of duty - In the present case, it is admitted fact that the appellant had filed ER-1 returns with the Department regularly and had disclosed their affairs, including the tax payable/paid - penalty set aside - appeal dismissed - decided against Revenue.
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