https://www.taxtmi.com/caselaws?id=114077 Penalty under the Central Excise Rules was sustained because the Tribunal found the appellant could not deny knowledge of the clearance price, making penal action justified. However, the penalty was reduced after the Tribunal considered the low value of the goods and the fact that duty had been paid immediately after the show cause notice. The duty demand was already satisfied, so the only live issue was the extent of penalty. The result was that the penalty was upheld in principle but scaled down from Rs. 30,000 to Rs. 5,000. en-us Fri, 13 Aug 2004 00:00:00 +0530 Fri, 11 May 2012 10:16:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=114077 Penalty under the Central Excise Rules was sustained because the Tribunal found the appellant could not deny knowledge of the clearance price, making penal action justified. However, the penalty was reduced after the Tribunal considered the low value of the goods and the fact that duty had been paid immediately after the show cause notice. The duty demand was already satisfied, so the only live issue was the extent of penalty. The result was that the penalty was upheld in principle but scaled down from Rs. 30,000 to Rs. 5,000. Case-Laws Central Excise Fri, 13 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=114077