2007 (3) TMI 814

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..... out stating reason, reduced the penalty under Section 76 of the Finance Act from ₹ 2171/- to ₹ 1146/-. So far penalty under Section 77 is concerned, that was reduced to ₹ 10,000/- to ₹ 3,000/-. Therefore, no interference was called for by the ld. Commissioner (Appeals) without any speaking reason why such reduction was called for. 2. The ld. Counsel appearing for the Res .....

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..... lty by the Appellate Authorities below, reduction is not considerable as mercy and an authority shall only act in accordance with law. There is no reason brought out in record even to impose a token penalty for the technical breach and there is no finding on intention of the assessee to evade tax or make a knowable breach of law. Keeping the token amount of penalty in view, Cross Objection is allo .....

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