https://www.taxtmi.com/caselaws?id=217049 Rule 209A of the Central Excise Rules, 1944 authorises penalty on any person who acquires, possesses, or deals with excisable goods knowing or having reason to believe that they are liable to confiscation. On the stated facts, the purchaser company and its manager were found to have been aware that the supplier had crossed the exemption limit and that duty became payable thereafter; senior management correspondence also showed knowledge, and the supplier was later found fictitious. The absence of a separate finding of guilty mind did not help, because the rule is satisfied by knowledge or reason to believe. The penalty was therefore sustainable. en-us Thu, 18 Aug 2011 00:00:00 +0530 Wed, 12 Sep 2012 13:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217049 Rule 209A of the Central Excise Rules, 1944 authorises penalty on any person who acquires, possesses, or deals with excisable goods knowing or having reason to believe that they are liable to confiscation. On the stated facts, the purchaser company and its manager were found to have been aware that the supplier had crossed the exemption limit and that duty became payable thereafter; senior management correspondence also showed knowledge, and the supplier was later found fictitious. The absence of a separate finding of guilty mind did not help, because the rule is satisfied by knowledge or reason to believe. The penalty was therefore sustainable. Case-Laws Central Excise Thu, 18 Aug 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217049