https://www.taxtmi.com/caselaws?id=361352 The Tribunal dismissed the Revenue's appeal seeking to uphold the penalty imposed under Section 11AC of the Central Excise Act, 1944, emphasizing that penalty imposition was not justified as the loss of goods was not due to clandestine removal. The assessee's appeals against the demand of duty confirmed on the loss of material due to a flood in the factory and the rejection of the remission claim were allowed for remand to the adjudicating authority for reconsideration upon submission of necessary documents related to the insurance claim. en-us Thu, 03 May 2018 00:00:00 +0530 Tue, 05 Jun 2018 10:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=361352 The Tribunal dismissed the Revenue's appeal seeking to uphold the penalty imposed under Section 11AC of the Central Excise Act, 1944, emphasizing that penalty imposition was not justified as the loss of goods was not due to clandestine removal. The assessee's appeals against the demand of duty confirmed on the loss of material due to a flood in the factory and the rejection of the remission claim were allowed for remand to the adjudicating authority for reconsideration upon submission of necessary documents related to the insurance claim. Case-Laws Central Excise Thu, 03 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=361352