https://www.taxtmi.com/caselaws?id=4062 Where suppression of facts with intent to evade duty is found and the extended period under the Central Excise Act is invoked, Section 11AC penalty cannot be downgraded to a lesser penalty under Rule 173Q on a discretionary or hypothetical basis. The text notes that the fraud, collusion, wilful misstatement, suppression, and intent-to-evade elements in Section 11AC and the proviso to Section 11A(1) are materially similar, so once those conditions are satisfied, the statutory penalty under Section 11AC applies. The penalty conversion was therefore not justified, and the Section 11AC penalty stands, subject to the reduced 25% penalty if duty and interest are paid within the prescribed period. en-us Mon, 13 Aug 2007 00:00:00 +0530 Mon, 19 May 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=4062 Where suppression of facts with intent to evade duty is found and the extended period under the Central Excise Act is invoked, Section 11AC penalty cannot be downgraded to a lesser penalty under Rule 173Q on a discretionary or hypothetical basis. The text notes that the fraud, collusion, wilful misstatement, suppression, and intent-to-evade elements in Section 11AC and the proviso to Section 11A(1) are materially similar, so once those conditions are satisfied, the statutory penalty under Section 11AC applies. The penalty conversion was therefore not justified, and the Section 11AC penalty stands, subject to the reduced 25% penalty if duty and interest are paid within the prescribed period. Case-Laws Central Excise Mon, 13 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=4062