Penalty overturned for lack of consideration of appellant's submissions on transaction genuineness.

The Tribunal set aside the penalty imposed on the appellant for not considering their submissions on the genuineness of transactions. The Tribunal found that the appellant's submissions were not adequately addressed in the adjudication order, leading to the decision in favor of the appellant.

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Issues:
Imposition of penalty without considering submissions on genuineness of transactions.

Analysis:
The appellant challenged the imposition of penalty, claiming that their submissions regarding the genuineness of transactions were not considered by the authorities below. The Tribunal noted that while the reply filed by the appellant was considered in the adjudication order, no findings were recorded on the submissions made by the appellant. The relevant reply stated that the goods were sold on a cash transaction basis through bank transfers and that the documents with the buyer were genuine. The Tribunal observed that the submissions of the appellant were not taken into consideration while imposing the penalty. Consequently, the Tribunal found that since there was no contradiction in the orders, the submissions should be accepted as evidence. Therefore, the Tribunal set aside the impugned order and allowed the appeal in favor of the appellant.

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