https://www.taxtmi.com/caselaws?id=339461 The Appellate Tribunal CESTAT New Delhi partially allowed the appeals by setting aside the penalty imposed on M/s Vishal Metal Industries and M/s Krishna Metal Industries based on the lack of malafides and doubt on duty liability during the relevant period. The Tribunal held that penalty under section 11AC of the Central Excise Act is applicable only in cases involving fraud or willful misstatement with intent to evade duty. However, the liability to pay interest under Section 11AB of the Central Excise Act was upheld, emphasizing that interest is payable on delayed duty payment irrespective of malafides. en-us Wed, 01 Feb 2017 00:00:00 +0530 Tue, 28 Feb 2017 11:41:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339461 The Appellate Tribunal CESTAT New Delhi partially allowed the appeals by setting aside the penalty imposed on M/s Vishal Metal Industries and M/s Krishna Metal Industries based on the lack of malafides and doubt on duty liability during the relevant period. The Tribunal held that penalty under section 11AC of the Central Excise Act is applicable only in cases involving fraud or willful misstatement with intent to evade duty. However, the liability to pay interest under Section 11AB of the Central Excise Act was upheld, emphasizing that interest is payable on delayed duty payment irrespective of malafides. Case-Laws Central Excise Wed, 01 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339461