1998 (4) TMI 323 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, New Delhi heard a case regarding duty demand and penalty under Section 11AC. The tribunal accepted the applicants' offer to pay 25% of the duty in cash and secure 25% by bank guarantee, with the remaining amount and penalty waived upon compliance. Non-compliance would result in dismissal of the appeal. The penalty imposed on Shri Ajay Kumar Agarwal was waived. Compliance deadline was set for three months from the decision date.