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<h1>Supreme Court dismisses petition, disposes pending applications.</h1> The Supreme Court dismissed the petition for lack of merit and disposed of any pending applications. - 2016 (331) E.L.T. A132 (SC) Penalty under Section 11AC - High Court held that Tribunal has committed an error of having made available the option of reduced penalty. This is contrary to the spirit of law on the subject reported in [2014 (9) TMI 291 - GUJARAT HIGH COURT] - No merit is found in this petition to Apex Court - Apex Court dismissed the appellant's appeal The Supreme Court dismissed the petition as it found no merit in it. Any pending application was disposed of. (2016 (4) TMI 930 - SC)