1. The Court: Heard learned Counsel for the appellant petitioner. It has been stated on behalf of the appellant-petitioner that the penalty imposed being a sum of Rs. 4,46,525/- by the adjudicating authority was reduced to Rs. 1 lac by the learned Tribunal without giving any reasons therefor.
2. In view of that we feel that this order is not sustainable in the eye of law. Hence, we set aside the order and remit the matter back before the learned Tribunal to dispose of the matter with reasons as in our opinion it is not necessary for us to keep it pending.
3. All parties concerned are to act on a signed copy of the minutes of this order on the usual undertakings.
4. Urgent xerox certified copy of this order, if applied for, be supplied to the parties subject to compliance with all requisite formalities.