https://www.taxtmi.com/caselaws?id=120427 The appellants were required to pay interest under section 11AB of the Central Excise Act, 1944, despite paying the duty immediately upon finalizing accounts. The court clarified that interest is payable regardless of when the duty is paid, removing the requirement of suppression of facts. The penalty imposed under Rule 25 of the Central Excise Rules, 2002 was reduced from Rs. 15,000 to Rs. 5,000 considering the delay in payment. en-us Mon, 25 Sep 2006 00:00:00 +0530 Thu, 19 Jul 2012 12:44:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120427 The appellants were required to pay interest under section 11AB of the Central Excise Act, 1944, despite paying the duty immediately upon finalizing accounts. The court clarified that interest is payable regardless of when the duty is paid, removing the requirement of suppression of facts. The penalty imposed under Rule 25 of the Central Excise Rules, 2002 was reduced from Rs. 15,000 to Rs. 5,000 considering the delay in payment. Case-Laws Central Excise Mon, 25 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120427