2014 (12) TMI 729

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..... The Revenue has preferred this appeal challenging the order [2009 (240) E.L.T. 742 (Tri. - Bang.)] passed by the Customs, Excise & Service Tax Appellate Tribunal (hereinafter referred to as 'the Tribunal' for short) reducing the penalty from Rs. 59,77,432/- to Rs. 5,00,000/- only. 2. The substantial question of law that arises for consideration in this appeal is, Whether the Tribunal has t .....

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..... 007 on 9-2-2007 re-determining the assessable value in respect of total imported goods, confirmed the demand, interest along with penalty and also ordered for confiscation of goods. Aggrieved by the said order, the assessee preferred an appeal to the Tribunal. The Tribunal modified the order passed by the Commissioner confirming the duty demand in respect of addition of all the charges, directed t .....

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..... w provides that the penalty payable would be not less than equal to the duty payable. Further, the law provides, if the assessee pays the duty with interest within 30 days from the date of the order, then the penalty payable would be 25% of what is imposed. Therefore, the statute provides for the penalty payable and also reduced penalty payable. There is no discretion left either with the authorit .....

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