2011 (9) TMI 480

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.... order of the Tribunal passed in Second Appeal No. 492 of 2011 (Assessment Year 2007-08). Under the order impugned the Tribunal has stayed 80 per cent of the demand subject matter of challenge before the first Appellate Authority. The Assessee is not satisfied with the interim stay so granted. According to the Assessee he is entitled to stay of the entire disputed amount.   2. On behalf of....

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....pex Court then the issue of financial difficulties is of not much relevance.   5. Standing Counsel submitted that there had been an increase in the turnover vis-a-vis that disclosed by the Assessee because of certain undisclosed transactions having been entered into. Therefore, in the facts of the case irrespective of the rate of tax applicable on mosquito coils, there are other issues inv....

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....o relevance. The Tribunal appears to have lost sight of the aforesaid law, as explained by this Court, while passing the impugned order.   7. It could not be disputed before this Court that the Full Bench of the Tribunal itself in the case of M/s Neha Trading Company (supra) has held that Mosquito coils are chargeable at the rate of 4 per cent being insecticides and not at the rate of 12.5....