2009 (5) TMI 186

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....pellant. Shri S. Venkatachalam, Advocate, for the Respondent. [Order per: Jyoti Balasundaram, Vice-President]. - The respondents herein, who are engaged in the manufacture of cotton yarn, cleared their entire production during the period October 1996 to June 2000 on stock transfer basis to depot at Tiruppur and to their consignment agents for sales and for other disposal. The final sale of y....

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.... penalty of equal amount. The Commissioner (Appeals) accepted the contention of the assessees that the demand for the period October 1996 to 16-3-2000 was barred by limitation and restricted the demand for the period from 17-3-2000 to 30-6-2000 which worked out to Rs. 2,45,563/- and he also reduced the penalty to Rs. 50,000/-. Hence this appeal by the Revenue. 2. We have heard both sides. It is....