2008 (8) TMI 758

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....Appellant. Smt. Joy Kumari Chander, JCDR, for the Respondent. [Order per : S.L. Peeran, Member (J) (Oral)].  The appellant M/s. Mahindra & Mahindra (M&M) is required to pre-deposit penalty of Rs. 50,00,000/- imposed for violation of Rule 25 of the Central Excise Rules. The allegation is that they have exercised full control over M/s. Lokesh Machines Ltd. (LML) who have under valued t....

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....as credit by the appellant. Therefore, there is revenue neutrality. It is submitted that they have not taken credit till date and hence, the question of pre-deposit of penalty does not arise. 2. The prayer is seriously opposed by the learned JCDR that there was only an arithmetical error in quoting Rule 25 instead of Rule 26. She points out to the allegation of the appellant having played ....