2017 (2) TMI 1161

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....02-2017 Per: Ashok K. Arya 1. The appellants Viz. M/s Vishal Metal Industries and M/s Krishna Metal Industries are in appeal against the Order-In-Appeal no. 230-231 dated 31.12.2008 passed by Commissioner (Appeals), Delhi-I, whereunder the liability of duty, interest and penalty against the appellants have been sustained. 2. The Chartered Accountant, Shri Akshaes Garg represented the Appellants....

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....s on the part of the appellants, no penalty is liable to be imposed on the appellants. The Hon'ble Supreme Court in the case of Devans Modern Breweries Ltd. Vs. Commissioner of Central Excise, Chandigarh 2006 (202) E.L.T. 744(S.C.) holds that penalty under section 11AC of Central Excise Act, 1944 is imposable if non-payment of duty involves fraud, collusion, willful misstatement or suppression....