https://www.taxtmi.com/caselaws?id=118868 The Appellate Tribunal granted a stay on the recovery of a penalty of Rs. 1 crore under the Compounded Levy Scheme due to delayed duty payment, considering the inordinate delay in initiating penalty proceedings. Despite the Revenue's argument that there was no prescribed time limit for penalty imposition, the Tribunal relied on previous decisions setting aside penalties for similar delays. Emphasizing the importance of timely initiation of penalty proceedings, the Tribunal underscored the significance of consistency and precedent in determining the outcomes of penalty imposition and recovery cases. en-us Fri, 14 Oct 2005 00:00:00 +0530 Fri, 06 Jul 2012 13:33:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=118868 The Appellate Tribunal granted a stay on the recovery of a penalty of Rs. 1 crore under the Compounded Levy Scheme due to delayed duty payment, considering the inordinate delay in initiating penalty proceedings. Despite the Revenue's argument that there was no prescribed time limit for penalty imposition, the Tribunal relied on previous decisions setting aside penalties for similar delays. Emphasizing the importance of timely initiation of penalty proceedings, the Tribunal underscored the significance of consistency and precedent in determining the outcomes of penalty imposition and recovery cases. Case-Laws Central Excise Fri, 14 Oct 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=118868