https://www.taxtmi.com/caselaws?id=209800 The Tribunal upheld the penalty under Section 11AC due to admitted clandestine removal of 87.400 MT of non alloy steel wire rods without duty payment. The appellants' argument that prompt duty payment should preclude penalty imposition was rejected. However, the Tribunal granted the appellants the option to pay a reduced penalty of Rs.63,859 within thirty days, failing which a higher penalty of Rs.2,55,436 would apply. The appeal was ultimately rejected, affirming the penalty under Section 11AC while providing a chance for reduced penalty payment within the specified period. en-us Thu, 28 Apr 2011 00:00:00 +0530 Fri, 12 Jul 2013 11:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209800 The Tribunal upheld the penalty under Section 11AC due to admitted clandestine removal of 87.400 MT of non alloy steel wire rods without duty payment. The appellants' argument that prompt duty payment should preclude penalty imposition was rejected. However, the Tribunal granted the appellants the option to pay a reduced penalty of Rs.63,859 within thirty days, failing which a higher penalty of Rs.2,55,436 would apply. The appeal was ultimately rejected, affirming the penalty under Section 11AC while providing a chance for reduced penalty payment within the specified period. Case-Laws Central Excise Thu, 28 Apr 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209800