https://www.taxtmi.com/caselaws?id=210243 The Tribunal upheld penalties under Central Excise Rules for default in duty payment, rejecting appellants' financial crisis defense. Penalties were imposed under Rule 27, not Section 11AC. Interest recalculation was ordered, disregarding the daily rate, to align with specified rules and not exceed defaulted duty. The appeals were disposed with Rs.5,000 monthly penalty and interest reassessment, emphasizing fairness in proceedings. en-us Thu, 16 Jun 2011 00:00:00 +0530 Fri, 23 Nov 2012 13:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=210243 The Tribunal upheld penalties under Central Excise Rules for default in duty payment, rejecting appellants' financial crisis defense. Penalties were imposed under Rule 27, not Section 11AC. Interest recalculation was ordered, disregarding the daily rate, to align with specified rules and not exceed defaulted duty. The appeals were disposed with Rs.5,000 monthly penalty and interest reassessment, emphasizing fairness in proceedings. Case-Laws Central Excise Thu, 16 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=210243