https://www.taxtmi.com/caselaws?id=342545 The Tribunal set aside the penalty imposition of Rs. 30 lakh on a trading company under Rule 26 of the Central Excise Rules, 2002. The Tribunal ruled that Rule 26, which pertains to penalties for offenses related to excisable goods, applies to natural persons and not companies. Since there was no confiscation order in this case, the penalty on the company was deemed unsustainable. The Tribunal referred to legal precedents and the language of Rule 26 to support its decision, ultimately allowing the company's appeal. en-us Wed, 22 Mar 2017 00:00:00 +0530 Tue, 06 Feb 2018 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=342545 The Tribunal set aside the penalty imposition of Rs. 30 lakh on a trading company under Rule 26 of the Central Excise Rules, 2002. The Tribunal ruled that Rule 26, which pertains to penalties for offenses related to excisable goods, applies to natural persons and not companies. Since there was no confiscation order in this case, the penalty on the company was deemed unsustainable. The Tribunal referred to legal precedents and the language of Rule 26 to support its decision, ultimately allowing the company's appeal. Case-Laws Central Excise Wed, 22 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=342545