https://www.taxtmi.com/caselaws?id=333991 The High Court ruled in favor of the appellants, directing the Tribunal to reconsider the penalty issue in light of the benefit of the proviso to Section 11AC of the Central Excise Act. It was further held that the excess tax paid by the assessee should be adjusted towards the penalty liability, and if no duty or interest remains payable after adjustment, penalty imposition is not warranted. The matter was remanded to the Commissioner for fresh consideration, with a deadline of three months for a decision, allowing the appellants an opportunity to present relevant documents and have a personal hearing. en-us Thu, 06 Oct 2016 00:00:00 +0530 Tue, 01 Nov 2016 17:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333991 The High Court ruled in favor of the appellants, directing the Tribunal to reconsider the penalty issue in light of the benefit of the proviso to Section 11AC of the Central Excise Act. It was further held that the excess tax paid by the assessee should be adjusted towards the penalty liability, and if no duty or interest remains payable after adjustment, penalty imposition is not warranted. The matter was remanded to the Commissioner for fresh consideration, with a deadline of three months for a decision, allowing the appellants an opportunity to present relevant documents and have a personal hearing. Case-Laws Central Excise Thu, 06 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333991