https://www.taxtmi.com/caselaws?id=343595 Penalty under Rule 26(2)(ii) of the Central Excise Rules, 2002 could not be imposed for clearances made before 01.03.2007 because the provision was inserted only by Notification No. 08/2007-CE(T) with effect from that date. The relevant clearances related to 11.06.2003 to 31.05.2005, so applying the penal provision to those past transactions would amount to retrospective operation without express statutory authority. The penalty was therefore held unsustainable for the period in issue, and the matter was decided in favour of the assessee. en-us Tue, 02 May 2017 00:00:00 +0530 Mon, 29 May 2017 08:12:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343595 Penalty under Rule 26(2)(ii) of the Central Excise Rules, 2002 could not be imposed for clearances made before 01.03.2007 because the provision was inserted only by Notification No. 08/2007-CE(T) with effect from that date. The relevant clearances related to 11.06.2003 to 31.05.2005, so applying the penal provision to those past transactions would amount to retrospective operation without express statutory authority. The penalty was therefore held unsustainable for the period in issue, and the matter was decided in favour of the assessee. Case-Laws Central Excise Tue, 02 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343595