2011 (3) TMI 8

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....osed of. C.M. Appl. No.5376/2011 in C.E.A.C. No.1/2011 C.M. Appl. No.5363/2011 in C.E.A.C. No.2/2011 C.M. Appl. No.5378/2011 in C.E.A.C. No.3/2011 The appellants have filed these appeals against the order of CESTAT challenging the imposition of penalty. As per the orders of the CESTAT, penalty in the sum of Rs.5.00 crores is to be paid in each of these appeals. Out of these, a sum of Rs.2.00 crores each already stands paid, which was deposited by the appellants at the time of hearing of the appellants before the CESTAT. Along with these appeals, the appellants had moved applications for stay, which were dismissed by the orders dated 13th January, 2011 inter alia observing that the appellants were in robust financial health and therefore ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... a land admeasuring 2.5625 acres and freehold land. Learned counsel for the respondent opposes the prayer made in these applications. He has raised twin submissions in this behalf, namely, (i) four weeks' time granted to the appellants expired long ago and applications are filed at a belated stage when the appeals themselves are coming up for hearing on 12th May, 2011; (ii) after the orders were passed declining the stay and said order is confirmed by the Supreme Court dismissing the special leave petitions, there is no reason to vary the same. Insofar as the first objection of learned counsel for the respondent is concerned, from the facts stipulated above, it is obvious that the appellants had not accepted the order dated 13th January,....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....efore, need to be considered on their own merits. Since, for the reasons stated in the application, which are taken note of in brief above, we are inclined to fix installments for making the payment. We may observe that even if the payment is made in installments, the Revenue does not get prejudiced in any way inasmuch the Revenue would be receiving the amount in question, though over a spread of time. However, at the same time, we are of the view that the installments should start from the month of January 2011 when the order in the said applications were passed by this Court. This will take care of even the alleged delay in preferring these applications. In the circumstances, we direct as under: (i) The payment of Rs.3.00 crores by ....