https://www.taxtmi.com/caselaws?id=753000 CESTAT Mumbai held that penalty under Rule 26 of Central Excise Rules, 2002 cannot be imposed on companies, only on individuals. The appellant company failed to verify excise duty payment in invoices for CDs/DVDs, but the contract specified price was inclusive of all excise duty and taxes. The Tribunal ruled that Rule 26 requires personal knowledge of goods being liable to confiscation, which applies only to natural persons, not legal entities. Following precedent in Kakateeya Fabs case, the penalty imposition was set aside and appeal allowed. en-us Fri, 17 May 2024 00:00:00 +0530 Wed, 22 May 2024 18:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753000 CESTAT Mumbai held that penalty under Rule 26 of Central Excise Rules, 2002 cannot be imposed on companies, only on individuals. The appellant company failed to verify excise duty payment in invoices for CDs/DVDs, but the contract specified price was inclusive of all excise duty and taxes. The Tribunal ruled that Rule 26 requires personal knowledge of goods being liable to confiscation, which applies only to natural persons, not legal entities. Following precedent in Kakateeya Fabs case, the penalty imposition was set aside and appeal allowed. Case-Laws Central Excise Fri, 17 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753000