2011 (5) TMI 80

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....ies imposed under Section 75A, 76 and 77 of the Finance Act, 1994, have been set aside by the lower appellate authority. The proposed penalty under Section 78 has also been reduced to 25% of the tax amount by the original authority. Shri K. Mani, Ld. Consultant appearing for the appellants is not pressing the appeal in regard to the reduced penalty imposed under Section 78. However, he states that....