https://www.taxtmi.com/caselaws?id=245185 Penalty under Section 11AC of the Central Excise Act was not leviable because the record did not establish fraud, collusion, wilful misstatement or suppression of facts with intent to evade duty; the assessee had disclosed the relevant working and had already debited a substantial amount before the officers' visit. Interest under Section 11AB was nevertheless payable on the differential duty, as liability to interest followed the statutory consequence of delayed payment and was not displaced by payment made before issuance of notice. The order deleting penalty was sustained, but the liability to interest on the duty differential was upheld. en-us Wed, 23 Jan 2013 00:00:00 +0530 Sat, 22 Mar 2014 06:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=245185 Penalty under Section 11AC of the Central Excise Act was not leviable because the record did not establish fraud, collusion, wilful misstatement or suppression of facts with intent to evade duty; the assessee had disclosed the relevant working and had already debited a substantial amount before the officers' visit. Interest under Section 11AB was nevertheless payable on the differential duty, as liability to interest followed the statutory consequence of delayed payment and was not displaced by payment made before issuance of notice. The order deleting penalty was sustained, but the liability to interest on the duty differential was upheld. Case-Laws Central Excise Wed, 23 Jan 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=245185