https://www.taxtmi.com/caselaws?id=336624 Penalty under section 11AC of the Central Excise Act, 1944 is mandatory only after the statutory ingredients of fraud, collusion, wilful misstatement, suppression of facts, or intent to evade duty are established. The High Court noted that later Supreme Court authority did not dispense with those preconditions; it only confirmed that once they are proved, the authority has no discretion in the penalty quantum. Because the tribunal found those statutory conditions, and the related interest consequence, were not made out on the facts, the Revenue's challenge failed and the assessee's relief was maintained. en-us Mon, 05 Dec 2016 00:00:00 +0530 Thu, 06 Apr 2017 16:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=336624 Penalty under section 11AC of the Central Excise Act, 1944 is mandatory only after the statutory ingredients of fraud, collusion, wilful misstatement, suppression of facts, or intent to evade duty are established. The High Court noted that later Supreme Court authority did not dispense with those preconditions; it only confirmed that once they are proved, the authority has no discretion in the penalty quantum. Because the tribunal found those statutory conditions, and the related interest consequence, were not made out on the facts, the Revenue's challenge failed and the assessee's relief was maintained. Case-Laws Central Excise Mon, 05 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=336624