https://www.taxtmi.com/caselaws?id=53799 Under the compounded levy regime, penalty for delayed duty payment is not automatically fixed at the full amount of the default; the quantum must be determined on the facts and circumstances of each case, and a uniform rule of equal penalty was rejected. The assessee's belated payment with interest, coupled with financial hardship, justified a reduced penalty. A duty remission already allowed to the assessee could also be set off against outstanding duty dues, so the remission amount was properly adjusted. The Revenue's challenge on both issues failed, and the order reducing penalty and permitting adjustment was upheld. en-us Thu, 13 Jan 2005 00:00:00 +0530 Fri, 15 Oct 2010 12:28:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=53799 Under the compounded levy regime, penalty for delayed duty payment is not automatically fixed at the full amount of the default; the quantum must be determined on the facts and circumstances of each case, and a uniform rule of equal penalty was rejected. The assessee's belated payment with interest, coupled with financial hardship, justified a reduced penalty. A duty remission already allowed to the assessee could also be set off against outstanding duty dues, so the remission amount was properly adjusted. The Revenue's challenge on both issues failed, and the order reducing penalty and permitting adjustment was upheld. Case-Laws Central Excise Thu, 13 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=53799