TMI Blog2011 (7) TMI 598X X X X Extracts X X X X X X X X Extracts X X X X ..... lty under this section would be attracted even if the duty had been paid prior to issue of show cause notice. In such situation, penalty u/s 11AC can be reduced when the entire duty confirmed by the adjudicating authority u/s 11A(2) along with interest payable thereon u/s 11AB together with a amount of equal to 25% of duty amount towards penalty is paid within a period of thirty days from the date ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I, certain kuccha records/slips were recovered which were resumed vide panchnama dated 18.1.2007. On examination of these slips and record, it was found that the steel ingots were purchased by M/s.Ranbir Steel Industries from the appellants. After comparing the records with the records of clearance to M/s.Ranbir Steel Industries, Shri Sanjay Gupta, Director of the appellant in his statement dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for reduction of penalty under first proviso to Section 11AC ibid on the ground that the interest under Section 1AC had not been paid within the stipulated time. It is against this order, the appellants are before this Tribunal. 3. None appeared on behalf of the appellants, inspite of notice. 4. Learned JCDR appearing for the Revenue submitted that the appellants are not eligible for the ben ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... this section would be attracted even if the duty had been paid prior to issue of show cause notice. In such situation, in whch the penalty under section 11AC can be reduced under first proviso to Section 11AC when the entire duty confirmed by the adjudicating authority under Section 11A(2) alongwith interest payable thereon under Section 11AB ibid together with a amount of equal to 25% of duty amo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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