2009 (2) TMI 114

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... lower appellate authority as penalty u/s 76 is not warranted in view of the penalty imposed u/s 78 - However, as regards penalty u/s 77, I agree with the Revenue that penalty is called for as the respondents have already been found to be guilty of suppression - appeal of the Revenue is partly allowed - ST/592-593/2008 - 140-141/2009-SM(BR)(PB), - Dated:- 3-2-2009 - Ms. Jyoti Balasundaram, Vice .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ein the maximum penalty prescribed is Rs. 1,000/-, I agree with the Revenue that penalty is called for as the respondents have already been found to be guilty of suppression and there is no challenge to this finding in the form of any appeal or cross-appeal by the assessee. I, therefore, hold that the respondents herein are liable to penalty of Rs. 1,000/- in terms of Section 77 of the Finance Act .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X