2010 (9) TMI 1066

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....(1) of the Central Excise Act, 1944 (for short, 'the Act') for direction to refer for opinion of this Court following question of law :- "Whether CEGAT was right in reducing the penalty imposed under section 11AC of the Act, which otherwise is mandatory and should be equal to the amount of duty short levied and confirmed?" 2. The respondent-assessee was alleged to have illegally availed....

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....9 (238) E.L.T. 3 and plain language of Section 11AC of the Act, penalty equal to the amount of duty evaded is mandatory and this question clearly arises from the finding recorded by the Tribunal. 5. We find merit in the submission. However, instead of directing the Tribunal to draw up a statement of case and make a reference to this Court, we take the question to have been referred and ans....