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2004 (1) TMI 265 - CESTAT, CHENNAIExtract: .......d to think that there is need for reduction in the quantum of redemption fine and penalty. Accordingly we reduce the redemption fine from Rs. 5,00,000/- to Rs. 2.50 lakhs (Rupees Two lakhs and fifty thousand) and the penalty from Rs. 2.50 lakhs to Rs. 1,00,000/-(Rupees One lakh). Except for the above modifications the appeal is otherwise dismissed.
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