https://www.taxtmi.com/caselaws?id=212187 The Tribunal held that the appellate authority lacked the power to reduce the mandatory penalty under Section 11AC of the Central Excise Act, 1944. Referring to precedent, it emphasized that penalties for fraud or willful misstatement should match the duty payable. As the respondent was not initially offered the option to pay a reduced penalty, the Tribunal granted them 30 days to pay the duty with interest, after which the penalty would be reduced to 25% of the confirmed duty. The matter was remanded for recalculating the penalty accordingly, clarifying the application of Section 11AC in such cases. en-us Tue, 31 May 2011 00:00:00 +0530 Fri, 13 Apr 2012 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=212187 The Tribunal held that the appellate authority lacked the power to reduce the mandatory penalty under Section 11AC of the Central Excise Act, 1944. Referring to precedent, it emphasized that penalties for fraud or willful misstatement should match the duty payable. As the respondent was not initially offered the option to pay a reduced penalty, the Tribunal granted them 30 days to pay the duty with interest, after which the penalty would be reduced to 25% of the confirmed duty. The matter was remanded for recalculating the penalty accordingly, clarifying the application of Section 11AC in such cases. Case-Laws Central Excise Tue, 31 May 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=212187