https://www.taxtmi.com/caselaws?id=153376 The Tribunal partially allowed the Revenue's appeal by reinstating the confiscation of unaccounted steel ingots but upheld the setting aside of the penalty imposed on the Respondent. The Commissioner (Appeals) decision on penalty imposition was affirmed, emphasizing the lack of evidence for clandestine clearance or intent to evade duty. The Tribunal differentiated this case from previous judgments and highlighted the necessity for proof of wilful misstatement or fraud for penalty imposition under Section 11AC. en-us Fri, 22 Jan 2010 00:00:00 +0530 Tue, 23 Jul 2013 11:08:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=153376 The Tribunal partially allowed the Revenue's appeal by reinstating the confiscation of unaccounted steel ingots but upheld the setting aside of the penalty imposed on the Respondent. The Commissioner (Appeals) decision on penalty imposition was affirmed, emphasizing the lack of evidence for clandestine clearance or intent to evade duty. The Tribunal differentiated this case from previous judgments and highlighted the necessity for proof of wilful misstatement or fraud for penalty imposition under Section 11AC. Case-Laws Central Excise Fri, 22 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=153376