2015 (1) TMI 584

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....mited (the Assessee) and upholding the penalty under Section 11AC of the Act for short paying the excise duty for the period 26-6-1995 to 31-8-1998. The Facts 2. The Assessee manufactures concrete sleepers for the Railways. It supplied concrete sleepers to the Railways and paid the duty on the bills raised by it. Under the agreement, there was a clause for the price escalation of the goods mentioned in the bills. 3. The Assessee raised bills for escalated price escalation for the concrete sleepers supplied during the relevant period. It also received the escalated price for the concrete sleepers in the year 1999. However, the Assessee neither paid the excise duty at the time of raising the escalated bills nor when the escalated....

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....sent back to the Tribunal for decision in accordance with decision in the case of Union of India v. Rajasthan Spinning and Weaving Mills; and Commissioner of Customs and Central Excise v. Lanco Industries Limited [(2009) 13 SCC 448 = 2009 (238) E.L.T. 3 (S.C.)]. 11. The Tribunal thereafter dismissed the appeal of the Assessee so far as imposition of penalty of equal amount of duty namely Rs. 13,26,410/- under Section 11AC of the Act was concerned. Hence, the present appeal by the Assessee. Questions Involved 12. We have heard counsel for the parties. This appeal was admitted on 21-2-2013 on the substantial questions of law (a) and (b) mentioned in the memorandum of appeal. They are as follows : (i)    &nbsp....