https://www.taxtmi.com/caselaws?id=370004 The Tribunal upheld the penalty imposed under Rule 26(2) of the Central Excise Rules, 2002 on the appellant, dismissing the appeal. The appellant's reliance on a retraction statement and arguments regarding bank statements were not accepted, with the Tribunal endorsing the Commissioner's findings and emphasizing the lack of explanation for the delayed retraction. The Tribunal also rejected the appellant's contention that the Revenue did not rely on the statement of the concerned party, as the appellant had previously acknowledged and accepted it, leading to the dismissal of the appeal against the penalty. en-us Wed, 31 Oct 2018 00:00:00 +0530 Thu, 08 Nov 2018 10:54:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370004 The Tribunal upheld the penalty imposed under Rule 26(2) of the Central Excise Rules, 2002 on the appellant, dismissing the appeal. The appellant's reliance on a retraction statement and arguments regarding bank statements were not accepted, with the Tribunal endorsing the Commissioner's findings and emphasizing the lack of explanation for the delayed retraction. The Tribunal also rejected the appellant's contention that the Revenue did not rely on the statement of the concerned party, as the appellant had previously acknowledged and accepted it, leading to the dismissal of the appeal against the penalty. Case-Laws Central Excise Wed, 31 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370004