2010 (5) TMI 338

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..... te penalty of Rs. 1,04,590 (Rupees one lakh four thousand five hundred and ninety only) imposed on it under section 78 of the Finance Act, 1994 ('the Act') and penalty under section 76 of the Act at the rate of Rs. 100 per day till the tax arrears was paid-up subject to a maximum of Rs. 1,26,744 (Rupees one lakh twenty six thousand seven hundred and forty four only) being the Cenvat credit found t .....

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..... Tribunal allowed the appeal filed by the assessee and set aside the impugned order.   2. According to the learned Counsel, in the appeal disposed vide Final Order No. 711/2010, dated 12-4-2010, the assessee had sought to vacate the order of the Commissioner (Appeals) denying them the Cenvat credit. The subject appeal has been filed for vacating the penalties sustained in the impugned order. .....

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