716. Appeals against penalty proceedings before tribunal.

On an appeal against penalty proceedings before the tribunal1, the Upper Tribunal may:

  1.  

    (1)     if it appears that no penalty has been incurred, set the determination aside;

  2.  

    (2)     if the amount determined appears to be appropriate, confirm the determination;

  3.  

    (3)     if the amount determined appears to be excessive, reduce it to such other amount, including nil, as the Upper Tribunal considers appropriate; or