2016 (11) TMI 1289

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....e Appellants. M.H. Patil, Rajiv Joshi and S.P. Kesarwani for the Respondents. ORDER 1. Heard Sri Praveen Kumar, learned Counsel for the appellant, and Sri Rajiv Joshi for the respondent. 2. This appeal was admitted on following substantial question of law:- (i) Whether the penalty under Section 11-AC is liable to be imposed on assessee and interest under Section 11-AB can be levied in view o....

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....er Section 11-AB is issued, this would show that there was no question of any fraud, misrepresentation or suppression of fact hence penalty and interest should not be levied. In Rashtriya Ispat Nigam Ltd. Vs. Commissioner of Central Excise, Visakhapatnam, 2003 (161) ELT 285 (Tri. - Bang.), took this view. The department preferred appeal in Supreme Court and vide judgment dated 7.5.2003, appeals ar....