https://www.taxtmi.com/caselaws?id=166327 The High Court of Karnataka dismissed the revenue's appeal against the setting aside of a penalty imposed on the assessee. The penalty was waived as duty with interest was paid, and no fraud or suppression was involved due to stock transfer of goods. The court reiterated that penalties are not automatic and can only be imposed under specific circumstances. en-us Thu, 15 Sep 2011 00:00:00 +0530 Wed, 17 Sep 2014 16:07:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=166327 The High Court of Karnataka dismissed the revenue's appeal against the setting aside of a penalty imposed on the assessee. The penalty was waived as duty with interest was paid, and no fraud or suppression was involved due to stock transfer of goods. The court reiterated that penalties are not automatic and can only be imposed under specific circumstances. Case-Laws Central Excise Thu, 15 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=166327