TMI Blog2005 (3) TMI 254X X X X Extracts X X X X X X X X Extracts X X X X ..... ntire duty amounting to Rs. 13.57,824/- has been deposited by the appellants even before issue of the show cause notice. The appellants have also deposited the entire amount of interest. They are contesting the imposition of penalty which is equivalent to the amount of duty and another penalty of Rs. 25,000/- on them. He relied upon the decision of the Larger Bench of the Tribunal in the case of C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... not find substantive force in the submission of the learned Counsel for the appellants that no penalty is imposable on them as they have paid the entire duty along with interest before the issue of show cause notice. The decision of the Larger Bench is based on the decision of the Hon'ble Supreme Court in the case of Collector v. Rashtriya Ispat Nigam Ltd. reported in 2004 (163) E.L.T. A53 (S.C.) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y is a must, but the quantum of penalty is only discretionary. As the appellants have contravened the provisions of Rule 25 of the Central Excise Rules. 2002, penalty is imposable. However, the quantum of penalty is very high and as such we reduce the penalty to Rs. 1,20,000/- (Rupees One lakh twenty thousand). The appeal is disposed of in the above terms. - - TaxTMI - TMITax - Central Exc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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