https://www.taxtmi.com/caselaws?id=267792 The Court upheld the Central Excise Settlement Commission's decision to impose a portion of the total penalty on a company and its directors while granting immunity from prosecution under the Central Excise Act, 1944. The petitioners' argument that the penalty imposition without full quantification was unjust and illegal was dismissed. The Court emphasized that by admitting duty liability and accepting immunity, the petitioners were bound by the penalty imposed, as per statutory provisions. The appeal was dismissed, affirming the Commission's order and highlighting the binding nature of settlements under the Act. en-us Mon, 06 Jul 2015 00:00:00 +0530 Thu, 07 Jan 2016 17:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=267792 The Court upheld the Central Excise Settlement Commission's decision to impose a portion of the total penalty on a company and its directors while granting immunity from prosecution under the Central Excise Act, 1944. The petitioners' argument that the penalty imposition without full quantification was unjust and illegal was dismissed. The Court emphasized that by admitting duty liability and accepting immunity, the petitioners were bound by the penalty imposed, as per statutory provisions. The appeal was dismissed, affirming the Commission's order and highlighting the binding nature of settlements under the Act. Case-Laws Central Excise Mon, 06 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=267792