TMI Blog2011 (2) TMI 412X X X X Extracts X X X X X X X X Extracts X X X X ..... appeal filed by the Revenue has to succeed. In this case, the penalty was reduced from Rs.44,600/- to Rs.10,000/- but as per Section 76 of Finance Act, 1994, penalty has to be either Rs.44,600/- or Nil, if it is considered that Bhawani had shown reasonable cause and therefore, discretion to waive penalty could be exercised. - Since assessee has not filed any appeal, decided in favor of revenue. - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or late filing of ST-3 returns. On an appeal filed by Bhawani, Commissioner (Appeals) in his order in appeal dated 11.05.2009, reduced the penalty under Section 76 to Rs.10,000/-by invoking Section 80 of Finance Act, 1994. Against this decision, Commissioner of Central Excise Rajkot filed an appeal before the Tribunal which was rejected. Thereafter, the Revenue filed a tax appeal before the Hon'bl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rdingly in the negative and the said tax appeal was disposed of." 2. The matter was accordingly listed and notice was sent to Bhawani also but no one has appeared on their behalf. Heard the learned DR. 3. This Tribunal while passing the order on 23.10.2009, rejected the appeal filed by the Revenue and had decided the issue on the basis of precedent decision of this Tribunal. In view of the fac ..... X X X X Extracts X X X X X X X X Extracts X X X X
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