Appellate Tribunal overturns penalty under Section 76, Finance Act; Commissioner's order deemed unlawful.

The Appellate Tribunal CESTAT, CHENNAI ruled in favor of the appellant, setting aside the penalty imposed under Section 76 of the Finance Act, 1994. The Commissioner's revisionary order to enhance the penalty was deemed unlawful due to a pending appeal, and the appellant's appeal was allowed.

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The Appellate Tribunal CESTAT, CHENNAI ruled in favor of the appellant as the Commissioner's revisionary order to enhance the penalty was deemed unlawful due to an appeal already pending. The penalty imposed under Section 76 of the Finance Act, 1994 was set aside, and the appeal was allowed.

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