https://www.taxtmi.com/caselaws?id=217880 Interest on differential central excise duty was held payable for the delay period from 11-5-2001 to 8-8-2001, because post-11-5-2001 short levy attracts interest under the amended interest provision even where the assessee later pays the duty on its own ascertainment. Penalty was not leviable, as the department was already aware of the transaction and the record did not establish suppression, collusion, wilful misstatement, fraud, or intent to evade duty. The mandatory penalty under the excise penalty provision was therefore set aside, leaving only interest for the delayed payment period. en-us Fri, 07 Oct 2011 00:00:00 +0530 Thu, 13 Sep 2012 18:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=217880 Interest on differential central excise duty was held payable for the delay period from 11-5-2001 to 8-8-2001, because post-11-5-2001 short levy attracts interest under the amended interest provision even where the assessee later pays the duty on its own ascertainment. Penalty was not leviable, as the department was already aware of the transaction and the record did not establish suppression, collusion, wilful misstatement, fraud, or intent to evade duty. The mandatory penalty under the excise penalty provision was therefore set aside, leaving only interest for the delayed payment period. Case-Laws Central Excise Fri, 07 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=217880