https://www.taxtmi.com/caselaws?id=124730 Penalty under Section 11AC of the Central Excise Act remained exigible where shortage of finished goods was admitted and the duty, together with 25% of the duty amount, had been deposited before the show cause notice; such pre-notice payment did not by itself extinguish the statutory penalty liability. The deletion of penalty on the company was therefore unsustainable and was set aside. By contrast, penalty on an employee under Rule 26 of the Central Excise Rules was not upheld in the absence of evidence of his independent involvement in the alleged evasion. en-us Mon, 21 Jul 2008 00:00:00 +0530 Thu, 04 Oct 2012 16:58:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=124730 Penalty under Section 11AC of the Central Excise Act remained exigible where shortage of finished goods was admitted and the duty, together with 25% of the duty amount, had been deposited before the show cause notice; such pre-notice payment did not by itself extinguish the statutory penalty liability. The deletion of penalty on the company was therefore unsustainable and was set aside. By contrast, penalty on an employee under Rule 26 of the Central Excise Rules was not upheld in the absence of evidence of his independent involvement in the alleged evasion. Case-Laws Central Excise Mon, 21 Jul 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=124730