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2010 (6) TMI 255

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....the Appellant. C. Rangaraju for the Respondent. ORDER 1. The assessees challenge the penalty of Rs. 1,90,696 imposed under the provisions of section 76 of the Finance Act, 1994. The period of dispute is April, 2006 to September, 2006. 2. I have heard both sides. The plea of the assessees for reworking out of the penalty for the reason that penalty at the rate of 2 per cent has been wro....