https://www.taxtmi.com/caselaws?id=294529 The tribunal upheld the imposition of a penalty of Rs. 2.00 lakhs on the appellant, the Director of a company engaged in manufacturing iron and steel products, for alleged clandestine activities related to shortages in stock inputs/raw materials. The appellant's challenge to the penalty was partly allowed, emphasizing the significance of evidence and admissions in such cases and directors' liability for penalties despite claims of lack of personal involvement. The reduction in the penalty amount by the tribunal reflected a balanced approach considering the circumstances and duty amount involved. en-us Fri, 14 Jun 2019 00:00:00 +0530 Mon, 19 Apr 2021 20:45:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294529 The tribunal upheld the imposition of a penalty of Rs. 2.00 lakhs on the appellant, the Director of a company engaged in manufacturing iron and steel products, for alleged clandestine activities related to shortages in stock inputs/raw materials. The appellant's challenge to the penalty was partly allowed, emphasizing the significance of evidence and admissions in such cases and directors' liability for penalties despite claims of lack of personal involvement. The reduction in the penalty amount by the tribunal reflected a balanced approach considering the circumstances and duty amount involved. Case-Laws Central Excise Fri, 14 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294529