1999 (9) TMI 333

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..... or the Respondents. [Order]. -  All the 16 appeals arise out of the same order and as such are being disposed of by a common order. 2. Penalty of Rs. 20 lakhs was imposed upon the appellants which was further reduced to Rs. 10 lakhs by the appellate authority on the ground that the appellants had been clearing their goods against debit balance in their PLA. 3. The appellants' p .....

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..... st the debit balance in PLA. As such he submits that a nominal penalty would meet the ends of justice. 4. Countering the arguments Shri J.M. Kenedy, ld. JDR submits that though there is no finding of any mala fide, but nevertheless the Revenue has lost interest to the tune approximately Rs. 6 lakhs on account of this action of the appellants. This interest calculation, explains the ld. JDR, .....

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..... ellants and the same is required to be met with penalty, I find the penalty amount of Rs. 10 lakhs to be on the higher side for the said violation. 6. Taking all the facts and submissions into consideration I reduce the penalty to Rs. 2.5 lakhs. But for the above modification the impugned order is otherwise upheld. All the appeals are disposed of in the above manner.
Case laws, Decisions .....

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