https://www.taxtmi.com/caselaws?id=254436 Penalty proceedings under the compounded levy scheme must be initiated within a reasonable period even where Rule 96ZP(3) of the Central Excise Rules, 1944 contains no express limitation. The Punjab & Haryana High Court followed the settled view that five years is a reasonable benchmark for commencing such action. Because the penalty notice in this matter was issued after expiry of that period, the penalty was treated as unsustainable and deletion of the penalty was upheld in favour of the assessee. The revenue's reliance on the cited Supreme Court decision did not change the result. en-us Thu, 17 Jul 2014 00:00:00 +0530 Tue, 18 Aug 2015 15:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254436 Penalty proceedings under the compounded levy scheme must be initiated within a reasonable period even where Rule 96ZP(3) of the Central Excise Rules, 1944 contains no express limitation. The Punjab & Haryana High Court followed the settled view that five years is a reasonable benchmark for commencing such action. Because the penalty notice in this matter was issued after expiry of that period, the penalty was treated as unsustainable and deletion of the penalty was upheld in favour of the assessee. The revenue's reliance on the cited Supreme Court decision did not change the result. Case-Laws Central Excise Thu, 17 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254436