TMI Blog2013 (8) TMI 160X X X X Extracts X X X X X X X X Extracts X X X X ..... ded against assessee. Penalty u/s 11AC - Held that:- Since the appellant has paid the amount of duty liability and is ready to pay the interest liability, therefore, appellant is liable for imposition of penalty under Section 11AC of the Central Excise Act, 1944, at the same time, he is liable to get the benefit of 25% of the amount of duty liability confirmed subject to the condition that he p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... val of processed fabrics. Both the adjudicating authority as well as the first appellate authority has confirmed the demands raised, interest thereof and imposed equivalent amount of penalty on the appellant. The equivalent amount of penalty is imposed under Section 11AC of the Central Excise Act, 1944. 3. Ld. consultant submits that this is second round of litigation. It is his submission that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve confirmed the demands raised on the appellant are upheld. 5. As regards the interest, the appellant is required to pay the interest on the amount of the duty liability which has been confirmed on them. To that extent, I find that the appellant s appeal for non-imposition of penalty is liable to be rejected and is rejected. 6. As regards penalty imposed under Section 11AC of the Central Exci ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... appellate stage. Respectfully following the same, I hold that the appellant is liable for imposition of penalty under Section 11AC of the Central Excise Act, 1944, at the same time, he is liable to get the benefit of 25% of the amount of duty liability confirmed subject to the condition that he pays the amount of interest and the penalty within thirty days on receipt of this order. 7. The appeal ..... X X X X Extracts X X X X X X X X Extracts X X X X
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