2001 (1) TMI 350 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, Bangalore disposed off the appeal by setting aside the penalty imposed under Section 11AC of the Act, as it cannot be imposed retrospectively. The duty amount involved was Rs. 55,225, which had been deposited by the appellants. The Tribunal found that the penalty under Section 11AC was not justified based on previous decisions.