9911796707
TMI Blog2024 (6) TMI 1116X X X X Extracts X X X X X X X X Extracts X X X X ..... s Sanghavi i/by PDS Legal. P.C.: 1. The following substantial questions of law have been proposed: "(A) Whether the Hon'ble CESTAT was justified in setting aside that part of the order-in-original 04/RKS/ST/PI/2013 dated 21.02.2013 that imposed penalties on M/s Serene Developers ? (B) Whether the Hon'ble CESTAT was justified in holding that the provision of Sub-Section (3) of Section 73 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ection 77 (2) is in no way related to the fact of payment of duty along with interest prior to the issuing of Show Cause Notice ? (D) Whether in the fact and circumstance of this case the Hon'ble CESTAT was right in setting aside the penalty under Section 78 of the Finance Act 1994, without taking recourses to the provisions of the erstwhile Section 80 of the Finance Act, 1994 ? (E) Whether ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , counsel for Appellant in fairness agreed that only ground in appeal raised relates to the penalty imposed on Respondent and therefore, only proposed question of law at serial no. (A) above will be relevant. The Department is unhappy with the fact that the Tribunal has set aside the order imposing penalty. Having considered the impugned order what appears to have prevailed in the mind of the Trib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is well settled principle that an Appellate Court ought not to interfere with exercise of discretion except where such exercise has been shown to be arbitrary, capricious or perverse. Further, the Appellate Court ought not to reassess the material and seek to reach a different conclusion from the one reached by the Tribunal if one reached by the Tribunal was reasonably possible on the material. T ..... X X X X Extracts X X X X X X X X Extracts X X X X
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