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2003 (12) TMI 348 - AT - Central ExciseExtract: .......they would have made about Rs. 16 lakhs in the market as per the calculations arrived at on the basis of the market price of palmolein oil and coconut oil in the country. However, we find the penalty imposed to be on the higher side. Hence, we reduce the penalty from Rs. 2 lakhs to Rs. 1 lakh. But for the above modification, the appeal is rejected.
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