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<h1>Tribunal reduces penalty for clearing goods against debit balance citing lack of mala fide intention</h1> The Appellate Tribunal CEGAT, Calcutta reduced the penalty imposed on the appellants from Rs. 10 lakhs to Rs. 2.5 lakhs due to lack of mala fide intention ... Penalty when reducible The Appellate Tribunal CEGAT, Calcutta reduced the penalty imposed on the appellants from Rs. 10 lakhs to Rs. 2.5 lakhs due to lack of mala fide intention. The penalty was for clearing goods against debit balance in their PLA, despite the appellants' explanation of banking delays. The Tribunal upheld the decision while reducing the penalty amount.
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