https://www.taxtmi.com/caselaws?id=124172 The Tribunal found that the penalties imposed on the appellant company and its executives for non-compliance with changed Valuation Laws were unsustainable. It was determined that there was no intention to evade duty payment, attributing the issue to ignorance of the law changes. The appellant's willingness to pay higher duty in good faith and the lack of specific failure by the penalized officers led to the conclusion that the penalties were unwarranted. Consequently, all appeals were allowed, and the penalties imposed by the Commissioner (Appeals) were overturned. en-us Wed, 10 Jan 2007 00:00:00 +0530 Wed, 26 Sep 2012 13:13:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=124172 The Tribunal found that the penalties imposed on the appellant company and its executives for non-compliance with changed Valuation Laws were unsustainable. It was determined that there was no intention to evade duty payment, attributing the issue to ignorance of the law changes. The appellant's willingness to pay higher duty in good faith and the lack of specific failure by the penalized officers led to the conclusion that the penalties were unwarranted. Consequently, all appeals were allowed, and the penalties imposed by the Commissioner (Appeals) were overturned. Case-Laws Central Excise Wed, 10 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=124172