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2012 (8) TMI 855 - CESTAT AHMEDABADPenalty - Enhancement of penalty - Wrong availment of Credit - Malafide intention - Held that:- penalty on the managing director need not be imposed when the assessee was penalized. Further it also cannot be said that Commissioner has not considered the gravity of the offence of the director. He has said that gravity of the offence of the director cannot be more than that of the company. Having regard to the decision of the Tribunal and the quantum of penalty imposed on the assessee and having regard to the fact that penalty, interest and duty was paid by the assessee promptly for which also the director can be said to be responsible and having regard to the facts and circumstances of the case, I consider that penalty on the director need not be enhanced - There is no indication that director received extra benefits from the company for availing the wrong benefit. In view of the fact that he has not received any extra benefit or personally did not benefit more than what he was entitled to because of wrong availment of credit, I consider that penalty of Rs.1,25,000/- confirmed in the impugned order is sufficient - Decided against Revenue.
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