2019 (2) TMI 1928

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..... ORDER The appellant - M/s MSD Developers, is the developer/ builder of residential flats. In the course of construction period they receive bookings from prospective persons, who wish to purchase the flats. Sometimes some of their buyers lose interest during the period of construction and they seek refund of their deposits, which is allowed by the appellant and thereafter they receive new depo....

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....be appropriated with further proposal to levy penalty. The show cause notice was adjudicated on contest and the proposed amount of Rs. 27,08,455/- was confirmed and further appropriation was ordered for Rs. 24,50,026/- which has already been deposited. Further interest was demanded and penalty was imposed under Section 78 Rs. 13,65,158/-. Being aggrieved appellant preferred appeal before Commissio....

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....t disputed and the appellant have paid the same, which is apparent from the record of the order-in-original and from the challan copy annexed with the appeal paper book. He contends that the penalty imposed under Section 78 of the Act is untenable under the facts and circumstances and accordingly he prays for waiver of the same. 4. The learned AR on behalf of the Revenue relied on the impugned or....