https://www.taxtmi.com/caselaws?id=119484 The tribunal partially allowed one appeal and dismissed another in a case concerning the applicability of a compounded levy scheme for hot re-rolled products of non-alloy steel and the impact of amendments to Notification No. 50/97-C.E. The appellants were found liable to pay duty at the tariff rate due to changes in the scheme and notification, but the penalty imposed by the Commissioner was vacated considering the appellants' good faith compliance with the original scheme. The tribunal emphasized the significance of assessing parties' intent and circumstances when determining duty liability and penalties in situations of legislative modifications affecting tax schemes. en-us Thu, 09 Mar 2006 00:00:00 +0530 Wed, 11 Jul 2012 13:17:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119484 The tribunal partially allowed one appeal and dismissed another in a case concerning the applicability of a compounded levy scheme for hot re-rolled products of non-alloy steel and the impact of amendments to Notification No. 50/97-C.E. The appellants were found liable to pay duty at the tariff rate due to changes in the scheme and notification, but the penalty imposed by the Commissioner was vacated considering the appellants' good faith compliance with the original scheme. The tribunal emphasized the significance of assessing parties' intent and circumstances when determining duty liability and penalties in situations of legislative modifications affecting tax schemes. Case-Laws Central Excise Thu, 09 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119484