https://www.taxtmi.com/caselaws?id=119148 Penalty for non-payment of central excise duty was moderated where the assessee asserted a bona fide belief that exemption withdrawal had not come to its notice and that similarly placed manufacturers had also not paid duty. The record indicated systematic maintenance of production and sales accounts, and the demand was worked out from those accounts, supporting the plea of genuine belief. Although duty liability on the clearances was not disputed, the full penalty was found unwarranted and was reduced, while the duty demand and the balance of the order were upheld. en-us Wed, 19 Apr 2006 00:00:00 +0530 Mon, 09 Jul 2012 13:13:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119148 Penalty for non-payment of central excise duty was moderated where the assessee asserted a bona fide belief that exemption withdrawal had not come to its notice and that similarly placed manufacturers had also not paid duty. The record indicated systematic maintenance of production and sales accounts, and the demand was worked out from those accounts, supporting the plea of genuine belief. Although duty liability on the clearances was not disputed, the full penalty was found unwarranted and was reduced, while the duty demand and the balance of the order were upheld. Case-Laws Central Excise Wed, 19 Apr 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119148