2020 (2) TMI 702

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....Mishra for Appellant. Mr. S. Sridharan for Respondents.   P.C.:- These two Appeals arise from the same set of facts and have been disposed of by common order by the Customs, Excise Service Tax Appellate Tribunal, Mumbai dated 13 March 2019. 2. By the impugned order the Tribunal had reduced the penalty imposed on the Respondents-Directors of a Company from Rs. 10,00,00,000/- (Rupee....

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....cessary to narrate the facts in detail. 5. Parasrampuria Industries Limited was issued certain Advance Licenses by the Directorate General of Foreign Trade. The bonds were executed in respect of these Licenses. Parasrampuria Industries Limited was allowed imports under the Advanced Licenses. According to the Appellant, Parasrampuria Industries Limited (the Company) had undertaken to fulfill the....

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....ention of the Appellant that this order is entirely nonspeaking and perverse, while it is the contention of the Respondents that considering the background facts, the order is correct and should not be interfered with. It is contended by the Respondents that the reasons are given in the order about the abatement of Appeals against the Company and one of the Directors. 6. That the Tribunal would....

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....nce there is an absence of considerations of all the parameters the question of law as reframed will have to be answered in favour of the Appellant. 7. Accordingly the Appeals are allowed. The impugned order dated 13 March 2019 to the extent it reduces the penalty from Rupees Ten Crores to Rupees One Lakh is quashed and set aside. 8. The Appeals No.C/919 and 921/2009 stand restored to the fi....