https://www.taxtmi.com/caselaws?id=362852 Where excess stock and shortages were adjusted in stock verification and duty was paid under the governing Board circular for integrated steel plants, penalty under Section 11AC was held unwarranted because the circular negated the basis for penal action. Interest on the duty demand was also found unjustified, as the demand related to a period before Section 11AB, the adjudicating authority had proceeded under Section 11AA, and payment was made within three months of the order. The redemption fine and penalty were not enhanced, since the duty demand had already been substantially reduced after adjustment and no basis was shown to interfere with the quantum fixed by the adjudicating authority. en-us Thu, 03 May 2018 00:00:00 +0530 Thu, 05 Jul 2018 09:43:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362852 Where excess stock and shortages were adjusted in stock verification and duty was paid under the governing Board circular for integrated steel plants, penalty under Section 11AC was held unwarranted because the circular negated the basis for penal action. Interest on the duty demand was also found unjustified, as the demand related to a period before Section 11AB, the adjudicating authority had proceeded under Section 11AA, and payment was made within three months of the order. The redemption fine and penalty were not enhanced, since the duty demand had already been substantially reduced after adjustment and no basis was shown to interfere with the quantum fixed by the adjudicating authority. Case-Laws Central Excise Thu, 03 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362852