https://www.taxtmi.com/caselaws?id=2175 A fixed 7% recovery described as transportation or transit insurance charges was treated as includible in assessable value because it was not shown to be actual freight or a genuine insurance premium, but rather a recovery for possible breakage; only actual insurance charges incurred were deductible. On that finding, the mandatory penalty on the company under Section 11AC was sustained because the ingredients for equal penalty were satisfied. The personal penalty on the whole-time director under Rule 26 was set aside because the record did not contain specific findings of individual involvement or personal gain in the evasion. en-us Tue, 10 Jul 2007 00:00:00 +0530 Tue, 15 Apr 2008 16:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=2175 A fixed 7% recovery described as transportation or transit insurance charges was treated as includible in assessable value because it was not shown to be actual freight or a genuine insurance premium, but rather a recovery for possible breakage; only actual insurance charges incurred were deductible. On that finding, the mandatory penalty on the company under Section 11AC was sustained because the ingredients for equal penalty were satisfied. The personal penalty on the whole-time director under Rule 26 was set aside because the record did not contain specific findings of individual involvement or personal gain in the evasion. Case-Laws Central Excise Tue, 10 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=2175