https://www.taxtmi.com/caselaws?id=93704 The Tribunal rejected the Revenue's appeal against the setting aside of mandatory penalty and interest under Sections 11AC and 11AB. Relying on the decision in Maruti Udyog Ltd., the Tribunal held that penalty and interest provisions do not apply retrospectively. The Revenue failed to justify confirming the penalty and interest, especially after the duty amount confirmation was successfully challenged earlier. Emphasizing that the offense date predated the legislation enactment, the Tribunal reiterated that the legislation does not have retrospective effect. As a result, the appeal was dismissed, affirming the earlier decision against the Revenue. en-us Fri, 26 May 2000 00:00:00 +0530 Wed, 16 Nov 2011 12:55:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=93704 The Tribunal rejected the Revenue's appeal against the setting aside of mandatory penalty and interest under Sections 11AC and 11AB. Relying on the decision in Maruti Udyog Ltd., the Tribunal held that penalty and interest provisions do not apply retrospectively. The Revenue failed to justify confirming the penalty and interest, especially after the duty amount confirmation was successfully challenged earlier. Emphasizing that the offense date predated the legislation enactment, the Tribunal reiterated that the legislation does not have retrospective effect. As a result, the appeal was dismissed, affirming the earlier decision against the Revenue. Case-Laws Central Excise Fri, 26 May 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=93704