High Court of Gujarat modifies Tribunal order, reduces predeposit from Rs. 11 Cr to Rs. 5 Cr, sets deadline for petitioners. The High Court of Gujarat modified the impugned order passed by the Tribunal, reducing the predeposit amount from Rs. 11 Crores to Rs. 5 Crores. The ...
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High Court of Gujarat modifies Tribunal order, reduces predeposit from Rs. 11 Cr to Rs. 5 Cr, sets deadline for petitioners.
The High Court of Gujarat modified the impugned order passed by the Tribunal, reducing the predeposit amount from Rs. 11 Crores to Rs. 5 Crores. The petitioners were directed to deposit Rs. 4,66,00,000 by a specified date. Upon compliance, recovery was stayed during the appeal's pendency, with the Tribunal instructed to consider the appeal on merits independently. Failure to meet the deadline would result in consequences.
Issues involved: Challenge to impugned order passed by Customs, Excise & Service Tax Appellate Tribunal regarding predeposit amount.
The High Court of Gujarat modified the impugned order passed by the Tribunal, reducing the predeposit amount from Rs. 11 Crores to Rs. 5 Crores. The petitioners were directed to deposit Rs. 4,66,00,000 on or before 10th July 2013. Upon such deposit, the predeposit of the balance amount of duty, interest, and penalty would be waived, and recovery stayed during the appeal's pendency before the Tribunal. The Court clarified that it had not expressed any opinion on the merits of the case. The Tribunal was instructed to consider the appeal on merits without being influenced by the High Court's order. If the specified predeposit amount was not made by the deadline, consequences would follow. The Special Civil Application was disposed of with no costs.
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