2016 (5) TMI 447 - SCH - Central Excise

Imposition of penalty - Declaration of lesser price for the goods which were cleared for home consumption - Diffrential amount claimed was paid by the appellant - CESTAT held that there was a deliberate under-valuation which is discerned from the Resolution dated 2nd August, 1996 passed by the appellant itself, therefore the penalty is imposable - Apex Court dismissed the appeal

Summary

The Supreme Court dismissed the appeal in C.A. No. 1826 of 2008 due to the small amount involved. In C.A. No. 2993 of 2008, the appellant declared a lesser price for goods cleared for home consumption, leading to penalty proceedings and upheld penalties by the CESTAT for deliberate under-valuation. The appeal was dismissed as there was no reason to interfere with the impugned judgment.