https://www.taxtmi.com/caselaws?id=201418 The appellate court upheld the imposition of a penalty on a yarn broker for purchasing goods without payment of excise/customs duty. The penalty under Rule 26 of the Central Excise Rules, 2002 was found applicable as the broker knowingly dealt with goods liable to confiscation. Despite reducing the penalty amount from Rs. 60,000 to Rs. 30,000 under Section 11AC of the Central Excise Act, 1944, the court emphasized compliance with duty regulations and judicial discretion in determining penalties based on individual case circumstances. en-us Thu, 20 May 2010 00:00:00 +0530 Fri, 07 Jan 2011 12:54:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=201418 The appellate court upheld the imposition of a penalty on a yarn broker for purchasing goods without payment of excise/customs duty. The penalty under Rule 26 of the Central Excise Rules, 2002 was found applicable as the broker knowingly dealt with goods liable to confiscation. Despite reducing the penalty amount from Rs. 60,000 to Rs. 30,000 under Section 11AC of the Central Excise Act, 1944, the court emphasized compliance with duty regulations and judicial discretion in determining penalties based on individual case circumstances. Case-Laws Central Excise Thu, 20 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=201418