ORDER
Shri G.A. Brahma Deva
1. This is an appeal filed by the Revenue. None appeared on behalf of the Respondents. On going though the issue involved herein we find that the matter itself can be disposed off, even in the absence of the Respondents. Accordingly we proceed to pass this order after hearing Smt Radha Arun for the Revenue.
2. It was submitted by the DR that the issue relates to imposition of penalty under Section 11 AC of the Act. It is settled position now that penalty under Section 11 AC is only prospective and not retrospective. This position has been confirmed by the Supreme Court.
3. In the facts circumstances and on going through the categorical findings given by the Commissioner in the impugned Order, we do not find any substance in the appeal filed by the Revenue. Accordingly appeal is dismissed.
(Pronounced and dictated in open court)