Appellate Tribunal drops penalty under Finance Act, 1994

The Appellate Tribunal CESTAT NEW DELHI granted relief to the appellant/assessee by dropping the penalty under Section 77 of the Finance Act, 1994. The connected appeal was allowed, and the impugned order was quashed based on a settled legal principle in favor of the assessee.

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The Appellate Tribunal CESTAT NEW DELHI in the case of the appellant/assessee granted relief by dropping penalty under Section 77 of the Finance Act, 1994. A connected appeal was allowed based on a settled legal principle in favor of the assessee. The impugned order was quashed.

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