https://www.taxtmi.com/caselaws?id=124513 Under the compounded levy scheme, a monthly penalty under Rule 96ZQ(5) was held unsustainable where the duty and interest had been paid and no amount remained outstanding at the end of the month; the penalty was deleted because the statutory basis for default-linked punishment was absent. By contrast, separate penal action for breach of Rule 96ZQ(4) and Rule 96ZQ(6) was justified where the independent processor failed to maintain proper records and comply with mandatory return-filing requirements; the lesser penalty was therefore sustained. en-us Tue, 16 Jan 2007 00:00:00 +0530 Mon, 01 Oct 2012 12:57:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=124513 Under the compounded levy scheme, a monthly penalty under Rule 96ZQ(5) was held unsustainable where the duty and interest had been paid and no amount remained outstanding at the end of the month; the penalty was deleted because the statutory basis for default-linked punishment was absent. By contrast, separate penal action for breach of Rule 96ZQ(4) and Rule 96ZQ(6) was justified where the independent processor failed to maintain proper records and comply with mandatory return-filing requirements; the lesser penalty was therefore sustained. Case-Laws Central Excise Tue, 16 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=124513