1998 (2) TMI 250

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e Respondent. [Order per : P.C. Jain, Member (T)]. - Matter called. None for the respondent. A notice had been issued to the Official Liquidator inasmuch as the respondent-Company has been wound up in terms of the Calcutta High Court's Order dated 29-11-1994. In terms of the said order (para 14 thereof), the management and assets of the respondent-Company has been handed over to Lessee R.D. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Company. The value of cheques was to the tune of over Rs. 23 crores. Although, the respondent-Company paid duty subsequently, a penalty of Rs. 1,00,000/- was imposed on the respondent-Company by the adjudicating authority. 3. The Board has, however, observed that the penalty should be enhanced. Accordingly, it has been an ordered under Section 35E of the Central Excise Act, 1944 directing ....