2009 (12) TMI 165

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..... ndira Sisupal for the Respondent. ORDER 1. The assessees are aggrieved by the imposition of penalties under the provisions of sections 76 and 78 of the Finance Act, 1994, while the revenue has filed an appeal against reduction of penalties. 2. I have heard both sides. I find that out of the total liability of Rs. 2,04,124 which is the amount to which tax has been reduced, Rs. 1,85,657 stands pa .....

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..... h liability, so as to hold them guilty of suppression with intention to evade payment of tax and attracting the applicability of the extended period of limitation. My view find support from the decision of the Tribunal in R. Sukumar v. CCE [2008] 15 STT 349 (Chennai - CESTAT). 3. I, therefore, set aside the penalties imposed upon the assessees and partly allow Appeal No. S/182/2008 by upholding t .....

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