https://www.taxtmi.com/caselaws?id=49946 Penalty for delayed payment of duty under Rule 96ZQ(5) was held capable of reduction where the default was one day late, interest was paid, and the delay was explained by the bank's refusal to accept cash on the due date. Although the provision was couched in mandatory terms, the Tribunal applied the principle that discretion may still exist to impose a lesser penalty in an unintentional lapse, including by reference to the approach adopted in relation to Section 11AC. The penalty was reduced substantially in favour of the assessee. en-us Mon, 21 Aug 2000 00:00:00 +0530 Wed, 18 Aug 2010 16:36:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49946 Penalty for delayed payment of duty under Rule 96ZQ(5) was held capable of reduction where the default was one day late, interest was paid, and the delay was explained by the bank's refusal to accept cash on the due date. Although the provision was couched in mandatory terms, the Tribunal applied the principle that discretion may still exist to impose a lesser penalty in an unintentional lapse, including by reference to the approach adopted in relation to Section 11AC. The penalty was reduced substantially in favour of the assessee. Case-Laws Central Excise Mon, 21 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49946