2011 (3) TMI 884

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....eady deposited an amount of Rs.3.50 lakhs out of the total penalty of Rs.6,47,167/- imposed upon them under the provisions of Section 11AC, I dispense with the condition of pre-deposit of balance amount of penalty and proceed to decide the appeal itself, with the consent of both the sides, in as much as the issue lies in a narrow compass.   2. It is seen that the appellant, after availing ....

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....e dues along with 25% of penalty within a period of thirty days of the communication of their orders, in which case penalty shall stand reduced to 25%. The Tribunal in the case of Swati Chemicals Industries Ltd. reported in 2009 (248) ELT 421 as also the Hon ble Gujarat High Court in the case of Sains Steels Re-rolling Mills vide Tax Appeal No.2251 of 2009, has held that where such no option stand....