Appellant permitted to pay penalty in installments; Revenue to consider satisfied if paid as proposed. Appeals disposed.

The court allowed the appellant to settle the penalty amount in three monthly installments of Rs. 25,000 each, with the first installment due by a specified date. The Revenue agreed to consider the penalty satisfied if paid as proposed. The appeals were disposed of based on the appellant's undertaking to pay the remaining Rs. 75,000 in installments. The judgment allowed the Revenue to seek reopening of the matter if the payment schedule was breached. No costs were imposed, and connected petitions were closed.

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Issues:
Settlement of penalty amount in installments

Analysis:
The judgment pertains to the settlement of a penalty amount in installments. During the hearing, the appellant's counsel informed the court that a portion of the penalty had already been deposited. The appellant proposed to pay the remaining penalty amount in three monthly installments of Rs. 25,000 each, starting from a specified date. The Revenue representative agreed that if the penalty was paid as suggested, the demand would be considered satisfied. Consequently, the court disposed of the appeals based on the undertaking given by the appellant to pay the balance sum of Rs. 75,000 in three equal installments. The first installment was to be paid by a certain date, followed by the second and third installments on specified dates. The judgment also stated that in case of any breach of the payment schedule, the Revenue would have the liberty to approach the court for reopening the matter. The appeal was concluded in the mentioned terms, and connected miscellaneous petitions were closed without any costs being imposed.

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