https://www.taxtmi.com/caselaws?id=246450 Penalty under Section 11AC of the Central Excise Act was confined to 25% of the duty already paid and appropriated, because the duty and interest were deposited before adjudication and the statutory concession for reduced penalty applied. Where duty is determined on allegations of fraud, wilful misstatement or suppression, Section 11AC generally contemplates equal penalty, but it permits the lower penalty when the prescribed payment condition is satisfied. The adjudicating authority was therefore correct in restricting the penalty to the reduced amount, and the Revenue's challenge to that approach failed. en-us Mon, 23 Apr 2012 00:00:00 +0530 Sun, 20 Apr 2014 16:22:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=246450 Penalty under Section 11AC of the Central Excise Act was confined to 25% of the duty already paid and appropriated, because the duty and interest were deposited before adjudication and the statutory concession for reduced penalty applied. Where duty is determined on allegations of fraud, wilful misstatement or suppression, Section 11AC generally contemplates equal penalty, but it permits the lower penalty when the prescribed payment condition is satisfied. The adjudicating authority was therefore correct in restricting the penalty to the reduced amount, and the Revenue's challenge to that approach failed. Case-Laws Central Excise Mon, 23 Apr 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=246450