2016 (12) TMI 1319

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.... Jt. Commissioner (AR), for appellant Shri S.A. Gundecha, Advocate, for respondent Per: M.V. Ravindran This appeal is directed against order-in-appeal No. PI/320/06 dated 10.10.2006. 2. This appeal is filed by the Revenue against the impugned order only for restoration of penalty imposed by the adjudicating authority but set aside by the first appellate authority. 3. Heard both side....

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....ities. Show cause notice was issued for appropriation of such an amount and also for imposition of penalties. The adjudicating authority imposed equivalent amount of penalty in the order-in-original besides appropriating the amounts paid by the assessee. On an appeal, the first appellate authority set aside the penalties on the ground that the appellant had paid the amount of 8% of the value of th....

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....of Section 11AC are not applicable in the case in hand. 7. Having considered the submissions made by both sides and on perusal of records, we find that the appeal filed by the Revenue for imposition of penalties is devoid of merits for more than one reason. Firstly, it is correctly pointed out by the learned counsel that the amount of 8% of the value of the exempted goods is paid off by the res....