https://www.taxtmi.com/caselaws?id=202816 Cheque tendered within the prescribed time was treated as payment on the date of tender for periods before January 2000, so later bank clearance did not create default or attract interest or penalty. For defaults during January to March 2000, penalty proceedings under Rule 96ZO(3) were not barred, because no express limitation applied and action within a reasonable period of five years was timely. The rule made penalty mandatory and equal to the duty outstanding, leaving no discretion to reduce it below that amount. en-us Tue, 21 Sep 2010 00:00:00 +0530 Mon, 18 Apr 2011 01:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=202816 Cheque tendered within the prescribed time was treated as payment on the date of tender for periods before January 2000, so later bank clearance did not create default or attract interest or penalty. For defaults during January to March 2000, penalty proceedings under Rule 96ZO(3) were not barred, because no express limitation applied and action within a reasonable period of five years was timely. The rule made penalty mandatory and equal to the duty outstanding, leaving no discretion to reduce it below that amount. Case-Laws Central Excise Tue, 21 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=202816