https://www.taxtmi.com/caselaws?id=770042 Legal Case Summary:The SC/Tribunal addressed penalty imposition under Central Excise Rules for a limited company. The key holdings were: (1) Rule 26 penalties can only be levied on living persons, not corporate entities; (2) Penalty requires proof of tax evasion intent, which was absent; (3) After main assessee's settlement under SVLDRS, penalties against co-assessees are unsustainable. The Tribunal set aside the penalty order, finding no legal basis for imposing penalties on the appellant company. en-us Wed, 30 Apr 2025 00:00:00 +0530 Tue, 06 May 2025 09:58:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770042 Legal Case Summary:The SC/Tribunal addressed penalty imposition under Central Excise Rules for a limited company. The key holdings were: (1) Rule 26 penalties can only be levied on living persons, not corporate entities; (2) Penalty requires proof of tax evasion intent, which was absent; (3) After main assessee's settlement under SVLDRS, penalties against co-assessees are unsustainable. The Tribunal set aside the penalty order, finding no legal basis for imposing penalties on the appellant company. Case-Laws Central Excise Wed, 30 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770042