2001 (4) TMI 98 - HC - Central Excise

Summary

The High Court of Judicature at Madras considered the scope of penalty provisions under various tax laws, emphasizing that the prescribed penalty amount is a maximum and discretion can be exercised to levy a lesser amount based on the circumstances of each case. The court upheld the Tribunal's decision to reduce the penalty, stating that discretion can be judiciously applied within the legal framework. The Revenue's request for reference on the exercise of discretion was dismissed by the court in line with the Supreme Court's interpretation of penalty provisions.