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TMI Blog2015 (1) TMI 74X X X X Extracts X X X X X X X X Extracts X X X X ..... ire duty amount confirmed against the appellant and interest as also penalty of 25% of duty amount. In terms of first proviso to Section 11AC, if the duty determined and interest is paid within 30 days from the date of communication of the order of the Central Excise officers determining such duty, the amount of penalty liable to be paid by such persons under this section shall be 25% of the duty ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2-1843/2006-SM(BR) - Final Order Nos. A/51815-51816/2014-SM(BR) - Dated:- 29-4-2014 - Ms. Archana Wadhwa, Member (J) Shri K. Anand, Advocate, for the Appellant. Shri B.B. Sharma, AR, for the Respondent. ORDER After hearing both sides duly represented by Shri K. Anand, learned advocate appearing for the appellant and Shri B.B. Sharma, learned AR appearing for the Revenue, I fin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g the penalty to 25% of duty amount, should be extended to them. As such, the prayer is to reduce the penalty to 25% and to set aside the penalty upon the Managing Director. 3. It is not disputed that the appellants had deposited an amount of ₹ 66 lakhs even prior to issuance of show cause notice. The said amount covers the entire duty amount confirmed against the appellant and interest a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... self provides reduction of penalty in the said scenario. Accordingly, penalty on M/s. Intex Technologies is being reduced to 25%. Demand confirmed against them along with interest is however upheld as not contested. 4. As regards penalty on Shri Narender Bansal, I find that he is a Managing Director of the company and there are no specific averment made in the orders of the authorities below th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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