2008 (3) TMI 609

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... r : Archana Wadhwa, Member (J)]. Shri S.C. Bhide, the learned Consultant appearing in support of the ROM application submits that vide Order No. A/299/WZB/06/C-I/EB, dated 1-2-06, the demand was confirmed against them by upholding the invocation of longer period of limitation and penalty under Section 11AC was also upheld, but reduced to Rs. 1 lakh. The learned Consultant also submits that t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... nalty under Section 173Q and imposed penalty under Section 11AC. By applying the ratio of above decision of the Hon ble Supreme Court, penalty under Section 11AC could not have been imposed. As such, we modify the Tribunal s Para 4 as under : In view of the fact that the period involved is from 1992-93, when the Section 11AC was not under the Statutory Book, we set aside the personal penalty im .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X