2008 (12) TMI 136

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.... [Order].- In this case, during surprise visit of the officers to the factory of M/s. Premier Ispat Ltd. of which the respondent was a Director, on 19-6-2006, shortage of stock of finished goods as well as of raw material, in respect of which Cenvat credit has been taken, was noticed. Total duty involved on the finished goods found short and cenvated raw material found short was Rs. 1,45,004/-.....

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....efore the Commissioner of Central Excise (Appeals) for enhancement of the penalty on the Respondent. According to the Revenue minimum penalty prescribed under Rule 26 is Rs. 10,000/-. The Commissioner of Central Excise (Appeals) vide the impugned order dated 30-11-06 dismissed the Revenue's appeal. It is against this order that the present appeal has been filed. 2. None appeared for the respond....

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....ng, concealing, selling or purchasing or in any other manner deals with, any excisable goods which he knows or has reason to believe are liable to confiscation under the Act or these rules, shall be liable to a penalty not exceeding the duty on such goods or rupees ten thousand, whichever is greater" From the reading of Rule 26, it is clear that the penalty prescribed under this rule is an amou....