2005 (4) TMI 372 - AT - Central Excise

Summary

The Appellate Tribunal CESTAT, Mumbai waived the pre-deposit of penalty of Rs. 1 Lakh imposed on the Vice-President of M/s. Motorol Speciality Oils Ltd. The penalty was imposed for the removal of excisable goods without duty payment. The Tribunal found that Rule 26 of the Central Excise Rules, 2002 did not cover the present case as the applicant had not dealt with any excisable goods, which is a prerequisite for penalty imposition under the rule. Therefore, the Tribunal waived the pre-deposit of penalty and stayed the recovery pending the appeal.