- (1.) Heard learned counsel for the parties.
(2.) Relevant facts are that a Public Provident Fund Account, having duration of 15 years, is liable to be extended for a block of 5 years at the option of the account holder. But, concerning Public Provident Fund Accounts in the names of HUF a decision was taken that such accounts should be closed on 31.03.2011 and in respect of which the department claims to have issued a letter dated 22.12.2010 enclosing therewith the necessary notification dated 07.12.2010. The charge against the petitioner was of not closing 5 PPF Accounts in the name of HUF on 31.03.2011 and having received Rs. 1,00,000/- in each deposit and crediting the said amount in the PPF Accounts, resulting in the Account Holders being held entitled by the consumer forum to interest.
(3.) The penalty levied upon the petitioner is recovery of part of the interest paid by the Postal Department.;