2002 (2) TMI 792 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Chennai rejected ten appeals by the Revenue against reduction of penalties under Section 11AC of the C.E. Act, 1944 for M/s. Kannu Pipes and M/s. Sree Vishnu Pipes. The Tribunal ruled that penalties cannot be imposed retrospectively and only apply to companies, not employees. The appeals were dismissed as infructuous and unsustainable.