https://www.taxtmi.com/caselaws?id=213440 The Tribunal found the appellant, a public sector undertaking, liable for penalty under Section 11AC of the Central Excise Act, 1944 for mistakenly availing inadmissible credit of basic custom duty and special additional customs duty. The appellant's lack of intention to evade duty did not exempt them from penalty, as diligence was expected, especially from entities like public sector undertakings. The appellant was directed to pay a reduced penalty amount within 30 days, failing which the full duty amount would be due. The judgment underscored the necessity of strict compliance with the Act's provisions, particularly for entities like public sector undertakings. en-us Fri, 03 Jun 2011 00:00:00 +0530 Mon, 16 Apr 2012 18:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=213440 The Tribunal found the appellant, a public sector undertaking, liable for penalty under Section 11AC of the Central Excise Act, 1944 for mistakenly availing inadmissible credit of basic custom duty and special additional customs duty. The appellant's lack of intention to evade duty did not exempt them from penalty, as diligence was expected, especially from entities like public sector undertakings. The appellant was directed to pay a reduced penalty amount within 30 days, failing which the full duty amount would be due. The judgment underscored the necessity of strict compliance with the Act's provisions, particularly for entities like public sector undertakings. Case-Laws Central Excise Fri, 03 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=213440