2024 (3) TMI 1467

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....sentative appeared ORDER SOMESH ARORA In this matter, inter alia, the contest is on merits between the department and the present appellant for penalty imposed. The appellant could not avail benefit under the SVLDR Scheme regarding stated cash handled as per the department in its role as Angadiya and therefore department has invoked Rule 26(1) against the appellant and imposed penalty of ....

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....nd therefore the penalty falls within the parameters of Rule 26(1) and is therefore, justified. In rebuttal, the learned advocate indicates that cash of around Rs. 35,00,000/- was stated to be handled and the another figure which is for Rs. 1.73 Crores in any case is without evidence and therefore, the penalty cannot be justified without further evidence. 3. Considered the facts and position of....