https://www.taxtmi.com/caselaws?id=445117 CESTAT Allahabad set aside penalties imposed under Section 11AC of Central Excise Act on appellant regarding heat exchanger valuation. The tribunal held that for the period prior to 29.08.2012, extended limitation period could not be invoked per Board circular and SC precedent in Fiat India case. Since appellant voluntarily paid duty based on own assessment, following SC ruling in Steel Authority of India case, no show cause notice was required under Section 11A and consequently no penalty proceedings under Section 11AC could be initiated. Appeal allowed partially with penalties set aside but duty payment confirmed. en-us Mon, 30 Oct 2023 00:00:00 +0530 Wed, 01 Nov 2023 08:46:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=445117 CESTAT Allahabad set aside penalties imposed under Section 11AC of Central Excise Act on appellant regarding heat exchanger valuation. The tribunal held that for the period prior to 29.08.2012, extended limitation period could not be invoked per Board circular and SC precedent in Fiat India case. Since appellant voluntarily paid duty based on own assessment, following SC ruling in Steel Authority of India case, no show cause notice was required under Section 11A and consequently no penalty proceedings under Section 11AC could be initiated. Appeal allowed partially with penalties set aside but duty payment confirmed. Case-Laws Central Excise Mon, 30 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=445117