1999 (9) TMI 333

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... der]. All the 16 appeals arise out of the same order and as such are being disposed of by a common order. 2. Penalty of Rs. 20 lakhs was imposed upon the appellants which was further reduced to Rs. 10 lakhs by the appellate authority on the ground that the appellants had been clearing their goods against debit balance in their PLA. 3. The appellants plea is that they took the credit in .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he submits that a nominal penalty would meet the ends of justice. 4. Countering the arguments Shri J.M. Kenedy, ld. JDR submits that though there is no finding of any mala fide, but nevertheless the Revenue has lost interest to the tune approximately Rs. 6 lakhs on account of this action of the appellants. This interest calculation, explains the ld. JDR, has been made for the entire period over .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X