2005 (5) TMI 230

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....Revenue is in appeal. The Commissioner had ordered the recovery of 8% of the amount under Rule 57CC on Rectified spirit cleared without payment of duty during the period 1-9-96 to 28-2-97 on the grounds - (i)         Commissioner should have confirmed the entire amount of Rs.   11,10,629/- instead of holding that Rs. 7,10,471/- had already been ....

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....machinery provision under Rule  57CC  to  effect  the  recovery  of such  amount. The assessee has reversed the same and Revenue should accept the same as there is no dispute on quantification.  The reversals show the bona fide of the assessee. 2.2 As regards penalty under Section 11AC and interest under Section 11AB the same can be invoked for the liabil....