PANKAJ MITHAL,J. - (1.) Heard Shri A.P. Mathur and Shri Parv Agarwal for the parties.
(2.) The assessee-appellant has preferred this appeal against the order of the Tribunal dated 12-12-2006 by which the penalty of Rs. 4,58,334/- imposed under Rule 96ZO of the Central Excise Rules, 1944 has been reduced to Rs. one lac [2007 (216) E.L.T. 126 (Tri.-Del.)].
(3.) The facts reveal that the assessee-appellant defaulted by 15 days in depositing the amount of excise duty of Rs. 4,58,334/-.;