Why not 1, 2, 3, 4, 5, 6, 7 on the left-hand side?

Logic Level 2

Using operations, try to make the following equation true:

$\Large 1 \ \ 2 \ \ 3 \ \ 4 \ \ = \ \ 28$

Is it possible?

Details

You are only allowed addition, subtraction, multiplication, division and parentheses.
No combining of the digits is allowed. For example, you can't merge 1 and 2 to get 12.

P/S. See if you are sharp enough to understand the significance of this title.