Penalty u/s 11AC Not Applicable for Bona Fide Mistake; Rule 25 Penalty of Rs. 50,000 Sufficient.

Penalty u/s 11AC Not Applicable for Bona Fide Mistake; Rule 25 Penalty of Rs. 50,000 Sufficient. https://www.taxtmi.com/highlights?id=14458 Default in Monthly Payment - Penalty under Section 11AC was not imposable in cases where default had occurred because of bona fide mistaken belief - It was only a deemed removal without payment of duty - Penalty of Rs. 50,000 under Rule 25 would meet the ends of justice in the case - AT en-us Thu, 12 Sep 2013 11:47:25 +0530 Thu, 12 Sep 2013 11:47:25 +0530 TaxTMI RSS Generator Penalty u/s 11AC Not Applicable for Bona Fide Mistake; Rule 25 Penalty of Rs. 50,000 Sufficient. https://www.taxtmi.com/highlights?id=14458 Default in Monthly Payment - Penalty under Section 11AC was not imposable in cases where default had occurred because of bona fide mistaken belief - It was only a deemed removal without payment of duty - Penalty of Rs. 50,000 under Rule 25 would meet the ends of justice in the case - AT Highlights Central Excise Thu, 12 Sep 2013 11:47:25 +0530 https://www.taxtmi.com/highlights?id=14458