Levy of penalty u/s 77(1)(c) for failure to furnish the records...

Levy of penalty u/s 77(1)(c) for failure to furnish the records before the Audit Party - The appellant have already deposited penalty of ₹ 10,000/- imposed on the director and not appealed further. It is an admitted fact that the documents required were ultimately filed at the time of personal hearing of the show cause notice - taking a liberal view, penalty set aside - AT