2008 (7) TMI 162

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....ent. [Order (Oral)]. - This appeal arises from Order-in-Revision No. 67/2006 dated 12-12-2006 by which the Commissioner has imposed penalty under Section 76 of the Finance Act, which had been dropped by the Assistant Commissioner. He has imposed Rs. 200/- per day under Section 76 and enhanced the penalty from 25,000/- to 4,00,000/- in terms of Section 78 of the Act. The Appellants contention is t....

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....mits that this very issue was examined by the Tribunal in the case of Majestic Mobikes v. CCE, by Final Order No. 652-672/2008, dated 30-5-2008 [2008 (11) S.T.R. 609 (Tribunal)] and after detailed examination held that once the Original Authority has exercised his power reasonably and found bona fides on the part of the assessee in relation to deposits, then the Revisional Authority shall not enha....