Tribunal discretion on redemption fine and penalty upheld where no substantial question of law arose.

The Tribunal's reduction of redemption fine and penalty was sustained because the quantum of such levy lay within its discretion on the facts found. The Court held that no substantial question of law arose from the Tribunal's order, as the dispute turned on factual assessment rather than any legal error. The revenue's challenge was therefore rejected and the reduced fine and penalty remained undisturbed.

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Issues: Whether the Tribunal erred in reducing the redemption fine and penalty imposed on the assessee, and whether any substantial question of law arose from the Tribunal's order.

Analysis: The Tribunal had reduced the redemption fine and penalty on the facts of the case. The Court found no reason to interfere, holding that the quantum of penalty lies within the Tribunal's discretion and that the facts did not give rise to any substantial question of law.

Conclusion: The reduction in redemption fine and penalty was upheld and the revenue's appeal was rejected.

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