https://www.taxtmi.com/caselaws?id=335563 The appellate authority upheld the duty levy and penalty on the appellant company for excess stock found during inventory. The penalty on the Managing Director was reduced but the duty levy and the majority of penalties were upheld. The authorities found that the appellant had maintained proper accounts despite difficulties and that there was no mischievous conduct warranting the penalties imposed under section 11AC and Rule 25 of the Central Excise Rules. The penalties were deemed unnecessary and unsustainable due to the absence of deliberate intent, leading to the appeals being allowed solely on the penalty aspect. en-us Wed, 31 Aug 2016 00:00:00 +0530 Mon, 05 Dec 2016 11:48:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=335563 The appellate authority upheld the duty levy and penalty on the appellant company for excess stock found during inventory. The penalty on the Managing Director was reduced but the duty levy and the majority of penalties were upheld. The authorities found that the appellant had maintained proper accounts despite difficulties and that there was no mischievous conduct warranting the penalties imposed under section 11AC and Rule 25 of the Central Excise Rules. The penalties were deemed unnecessary and unsustainable due to the absence of deliberate intent, leading to the appeals being allowed solely on the penalty aspect. Case-Laws Central Excise Wed, 31 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=335563