https://www.taxtmi.com/caselaws?id=353527 The Tribunal upheld the duty liability and penalties imposed on the main appellant and Directors for the manufacture and clearance of wrist watches with MRP above Rs. 500 per piece. The penalties were not reduced as the appellants did not comply with Section 11AC provisions for timely payment. The Tribunal emphasized strict adherence to statutory provisions and dismissed the appeals, affirming the demand for an extended period based on evidence from private records and price tags recovered. Compliance with Section 11AC was crucial for reduced penalties, leading to the dismissal of the appeal. en-us Thu, 04 Jan 2018 00:00:00 +0530 Sat, 06 Jan 2018 07:24:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=353527 The Tribunal upheld the duty liability and penalties imposed on the main appellant and Directors for the manufacture and clearance of wrist watches with MRP above Rs. 500 per piece. The penalties were not reduced as the appellants did not comply with Section 11AC provisions for timely payment. The Tribunal emphasized strict adherence to statutory provisions and dismissed the appeals, affirming the demand for an extended period based on evidence from private records and price tags recovered. Compliance with Section 11AC was crucial for reduced penalties, leading to the dismissal of the appeal. Case-Laws Central Excise Thu, 04 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=353527