https://www.taxtmi.com/caselaws?id=107045 Payment by bankers' cheques tendered with challans was treated as equivalent to cash under the relevant RBI instructions and trade notice, so the assessee could take credit in the personal ledger account on the same day. The delay in realisation to the Government account was caused by the banking process, and the assessee had no control over or practical means of knowing the actual credit date before using the credit. On those facts, the penalty was not sustainable and was set aside. en-us Fri, 03 Jan 2003 00:00:00 +0530 Sat, 17 Mar 2012 12:01:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=107045 Payment by bankers' cheques tendered with challans was treated as equivalent to cash under the relevant RBI instructions and trade notice, so the assessee could take credit in the personal ledger account on the same day. The delay in realisation to the Government account was caused by the banking process, and the assessee had no control over or practical means of knowing the actual credit date before using the credit. On those facts, the penalty was not sustainable and was set aside. Case-Laws Central Excise Fri, 03 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=107045