https://www.taxtmi.com/caselaws?id=458987 The Appellate Tribunal CESTAT Ahmedabad set aside the Rs. 10 Lakhs penalty imposed on the appellant under Rule 26 of the Central Excise Rules, 2002. The Tribunal determined that the appellant, a director in a finance company, was not involved with the excisable goods but was only connected to the discounting of cheques. The Tribunal emphasized that Rule 26 penalties apply only if the assessee dealt with the goods, which was not the case here. Citing a similar precedent, the Tribunal concluded that the penalty was unjust, allowing the appellant's appeal and pronouncing the decision in open court on 07.02.2023. en-us Tue, 07 Feb 2023 00:00:00 +0530 Mon, 25 Nov 2024 19:20:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458987 The Appellate Tribunal CESTAT Ahmedabad set aside the Rs. 10 Lakhs penalty imposed on the appellant under Rule 26 of the Central Excise Rules, 2002. The Tribunal determined that the appellant, a director in a finance company, was not involved with the excisable goods but was only connected to the discounting of cheques. The Tribunal emphasized that Rule 26 penalties apply only if the assessee dealt with the goods, which was not the case here. Citing a similar precedent, the Tribunal concluded that the penalty was unjust, allowing the appellant's appeal and pronouncing the decision in open court on 07.02.2023. Case-Laws Central Excise Tue, 07 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458987