2002 (2) TMI 557 - AT - Central Excise

Summary

The Appellate Tribunal CEGAT, New Delhi reduced the penalty imposed on M/s. SKS Ltd. from Rs. 5 lakhs to Rs. 20,000 for taking credit in their PLA before cheques were cleared, stating that the duty was credited to the government account within a few days. The Tribunal found that although a penalty was warranted, the original amount was too high given the circumstances.