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TMI Blog2001 (11) TMI 183X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs. 7 lacs, Rs. 10 lacs and Rs. 25 lacs under the TR 6 challans for payment of duty with the designated bankers but the cheques were credited to the Government accounts on later dates. The delay in credits ranged from one day to eleven days. They, however, took the credit of these amounts in their PLA accounts without awaiting the clearance of the cheques by the concerned bankers. In the period of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the credit of the amounts in their PLA for the cheques deposited in favour of the Government without awaiting their clearance and cleared the goods against such credits which actually were not available to them. In terms of the provisions of Rule 173G, it is clearly directed that every assessee shall keep an account-current and shall periodically make credit in such account-current, by cash paymen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... over drawal of an amount of Rs. 15 lacs in respect of which, the Asstt. Commissioner has imposed a penalty of Rs. 15,000/- only. It is therefore requested by the appellants that in the present case also a view similar to the one taken in the cited decision may be taken. Keeping in view of these facts; I reduce the penalty to Rs. 2.5 lakhs (Rupees two lakhs and fifty thousand only). But for this m ..... X X X X Extracts X X X X X X X X Extracts X X X X
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