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of <h1>Appellate Tribunal CESTAT cuts penalty from Rs.35,800 to Rs.5,000 under Finance Act 1994</h1> The Appellate Tribunal CESTAT, New Delhi reduced the penalty imposed on the Appellant from Rs.35,800 to Rs.5,000 due to a past default related to the ... Waiver of penalty – continuous default in payment of tax - default appeared to be in the earlier stage of implementation of law - appellant prays for leniency on the ground that the Appellant had suffered from illness and disability - considering that the tax involved was very low and imposition of penalty of Rs.35,800/- will be disproportionate, it is reduced to Rs.5000 to prevent recurrence of default - appeal is allowed partly The Appellate Tribunal CESTAT, New Delhi reduced the penalty imposed on the Appellant from Rs.35,800 to Rs.5,000 due to a past default related to the Finance Act 1994. The appeal was allowed partly in favor of the Appellant.
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