2007 (7) TMI 317

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....p; by  the  Revenue  - Commissioner, Central Excise & Customs, Indore under Section 35- H(1) of the Central Excise Act, 1944 requesting this Court to call for the reference on the question mentioned infra :- "8(A). - the following question of law arises out of the order of the appellate Tribunal :- Whether penalty under Section 11AC of the Central Excise Act, 1944 would be equal ....

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.... "5.3. - After considering the submissions of both the sides, though we agree with the learned Senior Departmental Representative that penalty is imposable on the appellants, we also agree with the learned Advocate that the quantum of penalty is excessive in view of the facts and circumstances of the present matter. The interest of justice will be met if the appellants are directed to pay a penal....

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.... the case, we are not inclined to call for reference to this Court as in our view, there is no referable question much less substantial question of law arises out the order passed by the Tribunal, referred supra. In principal, the Tribunal has upheld the penalty, but has only reduced it to Rs. 25,00,000/- and this has been done in the interest of justice and after taking into account the rules/law....