2001 (7) TMI 602 - AT - Central Excise

Summary

The appeal was filed against a penalty imposed on the appellants for failing to submit returns and clearing goods without sufficient balance in their account. The penalty was reduced from Rs. 5.2 lakhs to Rs. 3.5 lakhs by the Commissioner (Appeals) but further reduced to Rs. 1.5 lakhs by the Tribunal due to no mala fide intention found. The appeal was dismissed, upholding the Commissioner's order except for the reduced penalty amount.