https://www.taxtmi.com/caselaws?id=31813 Where a statute prescribes a minimum penalty, the adjudicating authority and the Tribunal lack jurisdiction to reduce it below that statutory floor. Applying earlier High Court authority, the penalty could not be fixed below the minimum under Section 76 of the Finance Act, 1994, and the matter was remitted for fresh determination of the penalty within the permissible range. The operative principle is that the minimum penalty set by statute must be respected, and discretion cannot be exercised to go below that limit. en-us Fri, 16 May 2008 00:00:00 +0530 Wed, 22 Apr 2009 18:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=31813 Where a statute prescribes a minimum penalty, the adjudicating authority and the Tribunal lack jurisdiction to reduce it below that statutory floor. Applying earlier High Court authority, the penalty could not be fixed below the minimum under Section 76 of the Finance Act, 1994, and the matter was remitted for fresh determination of the penalty within the permissible range. The operative principle is that the minimum penalty set by statute must be respected, and discretion cannot be exercised to go below that limit. Case-Laws Service Tax Fri, 16 May 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=31813