https://www.taxtmi.com/caselaws?id=97970 The Tribunal set aside the order confirming the confiscation of excess finished goods and raw material with a redemption option, citing the absence of evidence of clandestine removal and strict interpretation of penal provisions. The penalty imposed under Rule 226 for non-accountal of goods in statutory records was reduced from Rs. 50,000 to Rs. 2000, aligning with the maximum penalty allowed under the rule. The decision aimed to ensure fair treatment of the appellants and uphold legal precedents favoring the assessee in penal actions. en-us Tue, 24 Jul 2001 00:00:00 +0530 Wed, 18 Jan 2012 17:00:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97970 The Tribunal set aside the order confirming the confiscation of excess finished goods and raw material with a redemption option, citing the absence of evidence of clandestine removal and strict interpretation of penal provisions. The penalty imposed under Rule 226 for non-accountal of goods in statutory records was reduced from Rs. 50,000 to Rs. 2000, aligning with the maximum penalty allowed under the rule. The decision aimed to ensure fair treatment of the appellants and uphold legal precedents favoring the assessee in penal actions. Case-Laws Central Excise Tue, 24 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97970