https://www.taxtmi.com/caselaws?id=381877 The Supreme Court partially allowed the appeal, quashing the penalty under Section 11AC of the Central Excise Act, 1944 for the period 1-4-1994 to 27-9-1996, while upholding the penalty from 28-9-1996 onwards. The Court held that Section 11AC is prospective and effective only from its enactment date, 28-9-1996, thus no penalty could be imposed under this provision for the period before this date. The High Court's decision to uphold the penalty for the pre-amendment period was found erroneous. en-us Mon, 25 Feb 2019 00:00:00 +0530 Fri, 21 Jun 2019 08:52:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=381877 The Supreme Court partially allowed the appeal, quashing the penalty under Section 11AC of the Central Excise Act, 1944 for the period 1-4-1994 to 27-9-1996, while upholding the penalty from 28-9-1996 onwards. The Court held that Section 11AC is prospective and effective only from its enactment date, 28-9-1996, thus no penalty could be imposed under this provision for the period before this date. The High Court's decision to uphold the penalty for the pre-amendment period was found erroneous. Case-Laws Central Excise Mon, 25 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=381877