2011 (6) TMI 323

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....e Respondent  Per M. Veeraiyan: This appeal is taken up for fresh decision, in pursuance of the order dated 29.4.2010 of the Hon'ble High Court of Punjab & Haryana High Court in Civil Appeal No. 24 /2007. 2. Heard both sides. 3. The issue for consideration is whether the respondent company and its Director are liable to penalties in the facts and circumstances of the case. There i....

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.... duty involved amounting to Rs.1,01,700/-. Undisputedly the statement of Director has not been retracted. This is a clear case of shortage of more than 60% of inputs on which credit has been taken. The short found goods were admitted to have been sold without payment of duty and without preparing invoices. This admission has been given by no less a person than a Director of the Company. Their stat....

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....andestine removal as seen from his statement. He is also liable to penalty under Rule 26 of the Central Excise Rules. 6. Learned Advocate, alternatively pleaded that inasmuch as the entire duty amount stands paid on the date of visit by the officers, i.e. before issue of show cause notice, benefit of concessional penalty in terms of proviso to section 11AC should be extended in the light of dec....