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2017 (8) TMI 465 - AT - Central ExcisePenalty u/s 78 - payment of tax with interest in being pointed out - Held that: - the situation in the present case is of a Revenue neutrality. It has been held consistently by the Tribunal and Courts that in case of revenue neutrality, intention of evasion of duty cannot be alleged as neither there is a gain/loss to the revenue or to the assesee. In the present case, the appellants have made out a fit case for waiver of penalty, as no suppression of fact is coming out from the overall circumstances available in the case. We, therefore, set aside the penalty imposed under Section 78, remaining part of the order is upheld. Appeal allowed - decided partly in favor of appellant.
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