2004 (11) TMI 563

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....osed, equal to the amount of duty, as the appellant paid duty with interest subsequent to the date of payment. The contention of the appellant is that duty alongwith interest has been paid, therefore, they are only asking for reduction of penalty. The appellant relied upon the decision of the Hon'ble Supreme Court in the case of State of Madhya Pradesh v. Bharat Heavy Electricals, 1998 (99) EL....

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....t held that the Tribunal has been over indulgent to the assessee by reducing the penalty which is strictly speaking could not do so. 2. We find that in this case only issue is whether penalty imposed under the compounded levy scheme, for delayed payment of duty, shall be equal to the duty amount or there is a discretion with the Assessing Authority or the Appellate Authority to reduce the same. W....