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TMI Blog2003 (11) TMI 416X X X X Extracts X X X X X X X X Extracts X X X X ..... . Kar, SDR, for the Respondent. [Order per : Archana Wadhwa, Member (J)]. - All the stay petitions are being taken up together for disposal inasmuch as they arise out of the same impugned order passed by the Commissioner of Central Excise, Jamshedpur vide which he has imposed personal penalty of Rs. 13,73,840/- on M/s. Tata Iron & Steel Co. Ltd. under the provisions of Rule 57U(6) of the Centra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eiving number of inputs and are maintaining huge voluminous records and are paying duty to the tune of Rs. 500 crores (approx.). As such, there can be no mala fide on their part so as to penalise them with penalty. 3. Countering the arguments, Shri T.K. Kar, ld. SDR submits that if the said mistake on the part of the appellants was not detected by the Central Excise Officers, the same would ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ocedural lapse on their part. However, we are of the view that the penalty to the extent of 100% is not justified inasmuch as the appellants reversed the credit immediately on being pointed out by the Officers. Accordingly, we reduce the penalty on M/s. TISCO to Rs. 2 lakhs (Rupees two lakhs only). Penalty imposed upon the other appellants are however set aside. All the appeals are disposed of in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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