2017 (4) TMI 934 - HC - Customs

Undertaking to pay penalty in installments - the balance amount towards penalty will be paid by the appellant in three monthly installments of ₹ 25,000/- each commencing from 05.04.2017 - Revenue, says that, if penalty is paid in the manner indicated above, the demand would get satisified - appeal allowed.

Summary

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 ?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 ?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.