2003 (7) TMI 622 - AT - Central Excise

Summary

The appeal was filed against the reduction in penalty amount from Rs. 1 lakh to Rs. 75,000 under Rule 173Q of the Rules. The penalty was further reduced to Rs. 50,000 as the duty evaded was Rs. 39,780. The penalty can be three times the value of goods removed clandestinely. The penalty was rightly imposed considering the suppression of facts, but reduced due to duty payment. The impugned order was maintained with the modification in penalty amount.