2014 (9) TMI 70

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....peal and stay application have been filed by Shri Chandra P Gidwani, Managing Director of M/s Shri Saptshringi Board & Paper Mills Pvt. Ltd. against imposition of penalty on him for an amount of Rs. 5,03,112/- under Rule 26 of the Central Excise Rules, 2002 which has been affirmed in the impugned Order-in-Appeal No. AV(11)308/2014 dated 15.1.2014. A case of suppression of production and clandestin....

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....te authority. 4. We have considered the submissions made in the appeal memorandum. Penalty has been imposed on the Managing Director of the assessee firm under Rule 26 of Central Excise Rules, 2002. Rule 26 provides that for imposition of penalty on any person, if such person had dealt with goods which he knew was liable for confiscation. In the present case, neither in the show-cause notice no....