2010 (6) TMI 431

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..... ituations (the assessees do not dispute that they are not entitled to the benefit under the notification) came into force only from 3-12-2004, while the period of demand is April, 2005 to July, 2006 - revenue’s contention is that the penalty could have been reduced but not entirely set aside - absence of any challenge to the acceptance of the lower appellate authority of the plea of the assessees .....

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..... I have heard both sides. The revenue has not challenged the findings of the Commissioner (Appeals) that the assessees had made out a reasonable ground for non-imposition of penalty by applying section 80 of the Finance Act, 1994. In the grounds of appeal, the revenue s contention is that the penalty could have been reduced but not entirely set aside. However, in the absence of any challenge to the .....

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