https://www.taxtmi.com/caselaws?id=128010 The Tribunal dismissed the Revenue's appeal to impose an additional penalty on the proprietor of M/s. Parker Industries, who utilized DEPB credit, emphasizing that penalizing the proprietor after already imposing a penalty on the company was unjustified. Similarly, the appeal to impose a penalty on Friends Trading Co. was rejected due to the absence of evidence or justification for retroactive penalties. The Tribunal upheld the decisions, highlighting the principles of proportionality and the lack of legal basis for the penalties sought by the Revenue. en-us Thu, 23 Jul 2009 00:00:00 +0530 Mon, 25 Mar 2013 17:23:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=128010 The Tribunal dismissed the Revenue's appeal to impose an additional penalty on the proprietor of M/s. Parker Industries, who utilized DEPB credit, emphasizing that penalizing the proprietor after already imposing a penalty on the company was unjustified. Similarly, the appeal to impose a penalty on Friends Trading Co. was rejected due to the absence of evidence or justification for retroactive penalties. The Tribunal upheld the decisions, highlighting the principles of proportionality and the lack of legal basis for the penalties sought by the Revenue. Case-Laws Customs Thu, 23 Jul 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=128010