https://www.taxtmi.com/caselaws?id=120260 Delayed payment of compounded levy dues attracted the statutory penalty under Rule 96ZP(3) of the Central Excise Rules, 1944, where the respondents had also failed to pay interest on time. The Tribunal held that change in management did not justify deletion of the penalty, and its earlier contrary view could not prevail against the binding High Court decision upholding imposition of penalty and denying any reduction. Penalty equal to the duty amount was therefore held imposable, and the order deleting the penalty was set aside. en-us Sun, 08 May 2005 00:00:00 +0530 Wed, 18 Jul 2012 10:39:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120260 Delayed payment of compounded levy dues attracted the statutory penalty under Rule 96ZP(3) of the Central Excise Rules, 1944, where the respondents had also failed to pay interest on time. The Tribunal held that change in management did not justify deletion of the penalty, and its earlier contrary view could not prevail against the binding High Court decision upholding imposition of penalty and denying any reduction. Penalty equal to the duty amount was therefore held imposable, and the order deleting the penalty was set aside. Case-Laws Central Excise Sun, 08 May 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120260