https://www.taxtmi.com/caselaws?id=351582 Where an assessee had already deposited an amount exceeding the crystallised duty liability before communication of the quantified demand, the benefit of restricted penalty under Section 11AC of the Central Excise Act, 1944 was treated as available. The earlier deposit was undisputed, and the excess lying with the revenue was to be adjusted after working out the full liability, including duty, interest, penalty and directors' penalties. The operative effect was that penalty was limited to 25% of the duty confirmed, with consequential refund or adjustment of the surplus amount. en-us Mon, 30 Oct 2017 00:00:00 +0530 Tue, 28 Nov 2017 07:38:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351582 Where an assessee had already deposited an amount exceeding the crystallised duty liability before communication of the quantified demand, the benefit of restricted penalty under Section 11AC of the Central Excise Act, 1944 was treated as available. The earlier deposit was undisputed, and the excess lying with the revenue was to be adjusted after working out the full liability, including duty, interest, penalty and directors' penalties. The operative effect was that penalty was limited to 25% of the duty confirmed, with consequential refund or adjustment of the surplus amount. Case-Laws Central Excise Mon, 30 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351582