https://www.taxtmi.com/caselaws?id=352812 The Tribunal allowed the appeal, setting aside the penalty imposed on the appellant. The Tribunal found that the allegations were based on presumptions without concrete evidence. It held that the retracted confessional statement could not be the sole basis for imposing a penalty, citing precedents. The appellant's contentions of genuine transactions were accepted, and the lack of specific instances or names regarding the alleged clandestine sale of pig iron was noted, leading to the reversal of the penalty decision. en-us Fri, 29 Sep 2017 00:00:00 +0530 Fri, 12 Jan 2018 11:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=352812 The Tribunal allowed the appeal, setting aside the penalty imposed on the appellant. The Tribunal found that the allegations were based on presumptions without concrete evidence. It held that the retracted confessional statement could not be the sole basis for imposing a penalty, citing precedents. The appellant's contentions of genuine transactions were accepted, and the lack of specific instances or names regarding the alleged clandestine sale of pig iron was noted, leading to the reversal of the penalty decision. Case-Laws Central Excise Fri, 29 Sep 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=352812