https://www.taxtmi.com/caselaws?id=424370 The penalty imposed under Rule 26 of Central Excise Rules, 2002, amounting to Rs. 5 Lacs, was reduced to Rs. 1 Lac by the Appellate Tribunal CESTAT Ahmedabad. The Tribunal found that while a penalty for improper accounting by the Chairman and MD of the appellant company was warranted, there was insufficient evidence to support the allegation of clandestine removal of goods without duty payment. The decision was in favor of the appellant, with the penalty modification pronounced by Hon'ble Member (Judicial) Mr. Ramesh Nair on 08.06.2022. en-us Wed, 08 Jun 2022 00:00:00 +0530 Wed, 29 Jun 2022 09:34:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424370 The penalty imposed under Rule 26 of Central Excise Rules, 2002, amounting to Rs. 5 Lacs, was reduced to Rs. 1 Lac by the Appellate Tribunal CESTAT Ahmedabad. The Tribunal found that while a penalty for improper accounting by the Chairman and MD of the appellant company was warranted, there was insufficient evidence to support the allegation of clandestine removal of goods without duty payment. The decision was in favor of the appellant, with the penalty modification pronounced by Hon'ble Member (Judicial) Mr. Ramesh Nair on 08.06.2022. Case-Laws Central Excise Wed, 08 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424370