2001 (7) TMI 461 - AT - Central Excise

Summary

The Appellate Tribunal upheld the duty and penalties on pipes removed without reversing credit. The Tribunal waived remaining penalty for Assessee Company and entire penalty for Executing Manager. The request to restrain encashment of bank guarantee was declined. The Tribunal dismissed the application as the bond was voluntarily filed by the assessee and they must suffer the consequences for standing guarantee for the truck.