Tribunal Allows Reduced Penalty for Misclassification Due to Holiday Delay, Citing Deadline Extension Provision.

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....Benefit of reduced penalty of 15% u/s 28(5) - Delay in payment of penalty due to Public Holiday - The appellant voluntarily paid the differential BCD and interest upon detection of the misclassification - The appellant argued that the delay was due to bank holidays, invoking Section 10 of the General Clauses Act, 1897, which extends deadlines to the next working day if the last day is a holiday. - The Tribunal upheld the department's invocation of penal provisions but ruled in favor of the appellant regarding the computation of the limitation period for penalty payment, setting aside the equal penalty imposed and allowing payment of the reduced penalty amount.....