https://www.taxtmi.com/caselaws?id=447265 The Tribunal modified the impugned order, increasing the penalty from Rs.20,39,919/- to Rs.1,05,61,543/- to align with the duty evaded, as mandated by Section 11AC. The Tribunal found the Commissioner's reasoning for not imposing a penalty equivalent to the duty evaded incorrect, emphasizing that Section 11AC requires a penalty equal to the duty evaded without exclusions. The appeal was allowed, and the Tribunal's decision was based on precedents and judgments from the Apex Court, ensuring compliance with the statutory requirements of penalty imposition. en-us Fri, 08 Dec 2023 00:00:00 +0530 Thu, 21 Dec 2023 15:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447265 The Tribunal modified the impugned order, increasing the penalty from Rs.20,39,919/- to Rs.1,05,61,543/- to align with the duty evaded, as mandated by Section 11AC. The Tribunal found the Commissioner's reasoning for not imposing a penalty equivalent to the duty evaded incorrect, emphasizing that Section 11AC requires a penalty equal to the duty evaded without exclusions. The appeal was allowed, and the Tribunal's decision was based on precedents and judgments from the Apex Court, ensuring compliance with the statutory requirements of penalty imposition. Case-Laws Central Excise Fri, 08 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447265