https://www.taxtmi.com/caselaws?id=333257 The Supreme Court granted special leave to appeal limited to the question of penalty in a case involving duty demands and penalty imposition under the Central Excise Act. The Tribunal had reduced the penalty to Rs. 20 lakhs, contrary to the appellant's argument that the penalty should be equal to the duty determined. The Court agreed with the appellant, ruling that the penalty should indeed be equal to the duty determined. Consequently, the respondent was directed to pay a penalty of Rs. 40,44,720, with the already paid Rs. 20 lakh to be adjusted, and the balance to be paid within two months. The appeal was disposed of with strict adherence to Section 11AC of the Act. en-us Mon, 05 Sep 2016 00:00:00 +0530 Wed, 30 Aug 2017 11:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333257 The Supreme Court granted special leave to appeal limited to the question of penalty in a case involving duty demands and penalty imposition under the Central Excise Act. The Tribunal had reduced the penalty to Rs. 20 lakhs, contrary to the appellant's argument that the penalty should be equal to the duty determined. The Court agreed with the appellant, ruling that the penalty should indeed be equal to the duty determined. Consequently, the respondent was directed to pay a penalty of Rs. 40,44,720, with the already paid Rs. 20 lakh to be adjusted, and the balance to be paid within two months. The appeal was disposed of with strict adherence to Section 11AC of the Act. Case-Laws Central Excise Mon, 05 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333257