https://www.taxtmi.com/caselaws?id=102766 Personal penalty under Section 11AC of the Central Excise Act was held unsustainable where the short levy on racking losses was already reflected in the assessee's statutory records and RT-12 returns, and the relevant figures were available to the Revenue. The provision applies only when non-levy or short levy results from fraud, collusion, wilful misstatement, suppression of facts, or contravention with intent to evade duty. Payment of the duty amount after the discrepancy was pointed out further indicated absence of mala fide intent, so the penalty was set aside. en-us Fri, 19 Apr 2002 00:00:00 +0530 Thu, 16 Feb 2012 10:21:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=102766 Personal penalty under Section 11AC of the Central Excise Act was held unsustainable where the short levy on racking losses was already reflected in the assessee's statutory records and RT-12 returns, and the relevant figures were available to the Revenue. The provision applies only when non-levy or short levy results from fraud, collusion, wilful misstatement, suppression of facts, or contravention with intent to evade duty. Payment of the duty amount after the discrepancy was pointed out further indicated absence of mala fide intent, so the penalty was set aside. Case-Laws Central Excise Fri, 19 Apr 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=102766