TMI Blog2015 (10) TMI 1239X X X X Extracts X X X X X X X X Extracts X X X X ..... ch option has been extended to the appellant by the adjudicating authority. In view of the settled proposition of law on this issue option of 25% reduced penalty is extended to the appellant under Section 11AC of the Central Excise Act, 1944, if the same is paid within 1 month from the receipt of this order. - Penalty of ₹ 25.000/- imposed upon the Director is reduced to ₹ 10,000. - A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ayment of duty and interest is not being contested. However, it was his case that option of 25% reduced penalty is not extended to the appellant under Section 11AC of the Central Excise Act, 1944, which is admissible. So far as penalty of ₹ 25,000/- imposed upon the Director of the main appellant is concerned it was argued that the same is imposable as the shortage of goods was reflected in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m the O.I.O. Dated 21.05.2012 that no such option has been extended to the appellant by the adjudicating authority. In view of the settled proposition of law on this issue option of 25% reduced penalty is extended to the appellant under Section 11AC of the Central Excise Act, 1944, if the same is paid within 1 month from the receipt of this order. 5. So far as imposition of penalty upon the Dir ..... X X X X Extracts X X X X X X X X Extracts X X X X
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