SetCom can’t deny benefit of reduced penalty to eligible assessees

Excise & Customs : Settlement Commission is vested with powers of Central Excise Officer therefore it has to pass orders in consonance with provisions of Central Excise Act. Hence, where assessee has paid duty and interest within stipulated time; SetCom has to extend benefit of reduced penalty to assessee. Further, it cannot direct assessee to make payments within a period shorter than that specified in Act