https://www.taxtmi.com/caselaws?id=202053 Penalty under Section 11AC of the Central Excise Act and allied interest and personal penalty provisions are discussed as being inapplicable where the assessee discharged the duty and paid interest before the show cause notice. The text states that financial difficulty and delayed payment, without fraud, collusion, wilful misstatement, suppression of facts, or intent to evade duty, do not satisfy the statutory preconditions for penal action. On that footing, the penalty demand and consequential personal penalties are described as not sustainable. en-us Fri, 08 Jan 2010 00:00:00 +0530 Tue, 22 Feb 2011 18:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202053 Penalty under Section 11AC of the Central Excise Act and allied interest and personal penalty provisions are discussed as being inapplicable where the assessee discharged the duty and paid interest before the show cause notice. The text states that financial difficulty and delayed payment, without fraud, collusion, wilful misstatement, suppression of facts, or intent to evade duty, do not satisfy the statutory preconditions for penal action. On that footing, the penalty demand and consequential personal penalties are described as not sustainable. Case-Laws Central Excise Fri, 08 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202053