2005 (5) TMI 592

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....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 that no interest payment for the delayed p....

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....ir, 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 penalty is to be imposed equal to amount of dut....