2002 (2) TMI 557

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.... - Shri K.K. Anand, learned Advocate, submitted that a penalty of Rs. 5 lakhs has been imposed on M/s. SKS Ltd. as they had taken the credit in their PLA on the date of depositing cheque in the bank and had removed the excisable goods by debiting in PLA though the cheque was realized on a subsequent date. He, further, submitted that there was delay of one or two days only by the bank in putting ....

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.... learned D.R., submitted that in three cheques involved in the present matter total amount involved is Rs. 14 lakhs and before the money is credited to the Central Government account after clearance of the cheques the appellants had cleared the goods involving the duty of about Rs. 11 lakhs; that such a clearance amounts to clearance without payment of duty, and therefore, the penalty has to be im....