2009 (5) TMI 628

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..... nt. [Order]. Revenue filed this appeal against order of the Commissioner (Appeals) whereby penalty imposed under Section 11AC of Central Excise Act, 1944 was set aside. 2. After hearing both sides and on perusal of the records, it is seen that on 4-5-2006 the Central Excise officers visited the respondent s factory and conducted stock verification. The said officers detected shortage o .....

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..... yana High Court in the case of CCE v. Omkar Steel Tubes (P) Ltd., reported in 2008 (221) E.L.T. 200 (P H) wherein it has been held that penalty could still be imposed as long as various elements envisaged by Section 11AC of the Act are satisfied including presence of mens rea. In the said case the Director of the assessee stated that he was not in a position to reveal the whereabouts of the steel .....

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