High Court Criticizes CESTAT for Unjustified Penalty Reduction from Rs. 1.75 Crores to Rs. 12 Lakhs Without Clear Reasons.

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....Reduction in penalty imposed - Validity of order passed by CESTAT - The maximum possible penalty was ₹ 15.30 crores but the adjudicating authority imposed a total penalty of ₹ 1.75 crores. The CESTAT has reduced penalty to ₹ 12 lacs without assigning any clear and cogent reasons much less reference to any relevant facts or law. - HC....