2003 (12) TMI 383

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.... Shri S.M. Tata, SDR, for the Respondent. [Order per : Justice K.K. Usha, President]. - Challenge in this appeal at the instance of the assessee is against the imposition of penalty under Rule 173Q of the Central Excise Rules for the reason of interest loss suffered by the Revenue on account of delayed payment of duty. Original authority had imposed a penalty of Rs. 3,00,000 which was redu....

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....ara of the appellants factory premises on 8-11-95 it was pointed out that caustic soda cleared to the sodium cyanide plant should be assessed at the highest price charged to customers on factory gate sale. Appellant immediately debited differential amount of duty. The total differential duty thus paid for the period from April, 1994 to August, 1996 came to Rs. 27,68,566. Thereafter show cause noti....

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....on the decision of the Madras High Court in DCW Ltd. v. Asst. Collector of Central Excise, Tuticorin - 1996 (88) E.L.T. 31. 4. It was submitted that the entire amount paid as differential duty had been taken as Modvat credit by sodium cyanide plant. Under these circumstances there could not have been any intention on the part of the assessee to evade the duty. Appellant placed reliance on ....