Tribunal Upholds Penalty Demand Against 100% EOU for Non-Disclosure but Grants Relief by Deleting Penalty.

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....100% EOU - Confirmation of demand and levy of penalty - The Tribunal was right in stating that the intention of the assessee was not as that of an honest tax payer as they failed to come forward to disclose that they have not paid the duty amount. - Precisely, for this reason the Tribunal has granted relief to the assessee by deleting the penalty which also in our considered view is a proper exercise of discretion by the Tribunal - the Tribunal has rightly re-appreciated the facts and rejected the appeal filed by the appellant/assessee. - HC....