Substitution of new section for section 11AC- Penalty for short-levy or non-levy of duty in certain cases.

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....cases. "11AC. (1) The amount of  penalty for non-levy or short-levy or non-payment or short payment or erroneous refund shall be as follows:- (a) where any duty of excise has not been levied or paid or short-levied or short-paid or erroneously refunded, by reason of fraud or collusion or any wilful mis-statement or suppression of facts, or contravention of any of the provisions of ....

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....of transactions referred to in clause (b) is paid within thirty days of the date of communication of order of the Central Excise Officer who has determined such duty, the amount of penalty liable to be paid by such person shall be twenty-five per cent. of the duty so determined; (d) where the appellate authority modifies the amount of duty of excise determined by the Central Excise Officer unde....

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.... (2) Where the amount as modified by the appellate authority is more than the amount determined under sub-section (10) of section 11A  by the Central Excise Officer, the time within which the interest or penalty is payable under this Act shall be counted from the date of the order of the appellate authority in respect of such increased amount.".        &n....