1994 (2) TMI 193

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... per : R. Jayaraman, Member (T)]. Though, this day only stay application was listed for hearing, after hearing both the sides and with their consent, we have decided to take up the appeal itself for disposal. 2. The appeal is against the order in original No. 268/Central Excise/93 dated 5-11-1993, passed by the Collector of Central Excise, Aurangabad, imposing penalty of Rs. 1,00,000/- on .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e demand within 4 days and they took credit of duty paid on the inputs, as and when they were brought in their factory. In fact, they always have modvat credit balance to the extent of more than Rs. 5 crores on an average and thus availing of the credit is not with any intention to save on interest. Though the Collector has observed that he would only like to impose a token penalty, the penalty of .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... side their factory. There is no allegation of double credit having been taken. Moreover, the amount was paid within 4 days when it was pointed out to the appellants. Having regard to this, we consider the penalty of Rs. one lakh cannot be construed to be a token one and hence we reduce the same to Rs. 2,000/- (Rupees two thousand only) and dispose of both the stay application as well as the appeal .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X