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of <h1>Appellate Tribunal Reduces Penalty for Premature Credit, Deems Initial Amount Excessive</h1> <h3>SKS LIMITED Versus COMMISSIONER OF CENTRAL EXCISE, NEW DELHI</h3> SKS LIMITED Versus COMMISSIONER OF CENTRAL EXCISE, NEW DELHI - 2002 (142) E.L.T. 208 (Tri. - Del.) The Appellate Tribunal CEGAT, New Delhi reduced the penalty imposed on M/s. SKS Ltd. from Rs. 5 lakhs to Rs. 20,000 for taking credit in their PLA before cheques were cleared, stating that the duty was credited to the government account within a few days. The Tribunal found that although a penalty was warranted, the original amount was too high given the circumstances.
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