https://www.taxtmi.com/caselaws?id=294747 Penalty under Section 11AC of the Central Excise Act, 1944 is sustainable only where the statutory foundations for its invocation are established, namely fraud, collusion, wilful misstatement, suppression of facts, or contravention with intent to evade duty. On the facts recorded, no legally tenable finding of suppression or intent to evade was made, and the mere payment of duty and interest did not cure the absence of those ingredients. The section, though mandatory once attracted, cannot operate without its preconditions. The penalty was therefore held unjustified and set aside in favour of the assessee. en-us Mon, 23 Sep 2019 00:00:00 +0530 Fri, 30 Apr 2021 19:57:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294747 Penalty under Section 11AC of the Central Excise Act, 1944 is sustainable only where the statutory foundations for its invocation are established, namely fraud, collusion, wilful misstatement, suppression of facts, or contravention with intent to evade duty. On the facts recorded, no legally tenable finding of suppression or intent to evade was made, and the mere payment of duty and interest did not cure the absence of those ingredients. The section, though mandatory once attracted, cannot operate without its preconditions. The penalty was therefore held unjustified and set aside in favour of the assessee. Case-Laws Central Excise Mon, 23 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294747