https://www.taxtmi.com/caselaws?id=48560 Where Rule 96ZP(3) prescribes only a maximum penalty, the competent authority may impose a lesser penalty on a reasoned assessment of the facts and circumstances; the maximum is not mandatory in every case. The Court treated the statutory ceiling as discretionary, followed the construction adopted for an analogous penalty provision, and read Sony India Limited as not establishing an absolute rule of maximum punishment. On that basis, the Tribunal's reduction of penalty was upheld and the revenue's challenge failed. en-us Thu, 12 Jun 2008 00:00:00 +0530 Sat, 06 Dec 2014 17:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=48560 Where Rule 96ZP(3) prescribes only a maximum penalty, the competent authority may impose a lesser penalty on a reasoned assessment of the facts and circumstances; the maximum is not mandatory in every case. The Court treated the statutory ceiling as discretionary, followed the construction adopted for an analogous penalty provision, and read Sony India Limited as not establishing an absolute rule of maximum punishment. On that basis, the Tribunal's reduction of penalty was upheld and the revenue's challenge failed. Case-Laws Central Excise Thu, 12 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=48560