https://www.taxtmi.com/caselaws?id=112518 Penalty under Section 11AC of the Central Excise Act and Rule 173Q was held unsustainable because the record did not establish fraud, collusion, wilful misstatement, suppression of facts, or an intention to evade duty; mere omission to disclose price-revision efforts and failure to follow provisional assessment procedure was insufficient. The penalties were set aside. Interest under Section 11AB was treated as statutorily payable on delayed duty payment in accordance with the prescribed scheme, so the interest liability was upheld. en-us Fri, 28 May 2004 00:00:00 +0530 Mon, 30 Apr 2012 14:10:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112518 Penalty under Section 11AC of the Central Excise Act and Rule 173Q was held unsustainable because the record did not establish fraud, collusion, wilful misstatement, suppression of facts, or an intention to evade duty; mere omission to disclose price-revision efforts and failure to follow provisional assessment procedure was insufficient. The penalties were set aside. Interest under Section 11AB was treated as statutorily payable on delayed duty payment in accordance with the prescribed scheme, so the interest liability was upheld. Case-Laws Central Excise Fri, 28 May 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112518