Public Sector Undertaking Exempted from Penalty Due to Lack of Intent u/s 11AC of Central Excise Act.

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Full Text of the Document

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....Penalty u/s 11AC of CEA on PSU - Inasmuch as the appellant is admittedly a public sector undertaking, and also by appreciating the fact that no evidence stands produced by the Revenue indicating any intent on the part of the assessee, penalty cannot be imposed on appellant....