2005 (5) TMI 592

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.... Shri S.K. Jawalkar, Accountant, for the Respondent. [Order]. -  Heard both sides. The respondents defaulted payment of Compounded Levy amount for Rs. 1,68,650/- for the period 1-2-1999 to 31-3-1999 and Rs. 75,521/- for the period 10-8-1999 to 31-3-2000. The amounts have been ultimately paid after long delay on 1-7-2004. Shri S.K. Jawalkar, Accountant of the respondent company submits t....

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....4 (Tri. - Mumbai)]. 3. Shri N.V.B. Nair, learned JDR appearing for the department, states in reply that the Hon'ble High Court of Allahabad in the case of Pee Aar Steels (P) Ltd. v. CCE, Meerut - 2004 (170) E.L.T. 406 (All) has upheld the penalty provision under Rule 96ZP(3) and has further held that penalty under the said rule is not a maximum penalty but the only penalty and that such pe....