2011 (4) TMI 602

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....avishankar, Advocate, for the Respondent. [Judgment per : N. Kumar, J.]. -  This is an appeal filed by the revenue challenging the order passed by the Tribunal setting aside the order imposing penalty. 2. The material on record discloses that the assessee was liable to pay duty for the month of August, 1997 calculated on ACP basis at Rs. 9,60,000/-. However, the assessee dischar....

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.... Section which imposes penalty clearly provides under what circumstances the penalty is leviable. The Rule framed which is in consonance with the main Section read as a whole, makes it very clear that he is liable to pay duty only if assessee continues the acts which are mentioned in the said Section with an intention to evade payment of tax. If the intention of payment of tax is not there and if ....