2011 (3) TMI 329

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....spondent. [Order per : Akil Kureshi J. (Oral)]. - Revenue is in appeal against order of the Tribunal dated 11-9-2008 [2009 (238) E.L.T. 125 (Tribunal)] to the extent it reduced personal penalty of Director of the Company from Rs. 4 lakh to Rs. 1 lakh each. From the record, we find that authorities below had imposed personal penalty on two Directors of Rs. 4 lakh each. Authorities have also i....

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....enalty observing that keeping in view overall facts and circumstances of the case, penalty is reduced. We are of the view that more elaborate reasons would enable us to appreciate Tribunal's satisfaction for exercising discretionary powers. We do feel that simply stating that in facts and circumstances of the case, reduction is warranted in a given case would not be sufficient even in exercise of ....