2012 (9) TMI 280 - SCH - Customs

Confirmation of demand and imposition of penalties by invoking extended period - Held that - Directions to stay the orders depositing a sum of ₹ 209 crores plus a sum of ₹ 9 crores and ten lacs, within six weeks time from date of order as well as the demand notice issued for payment of penalty under Section 114-A of the Customs Act as directed in 2012 (7) TMI 233 - CESTAT, BANGALORE. Earlier CESTAT has decided the issue against the appellant involving various issues i.e. Jurisdiction, classification and valuation etc. relating to import of hardware, software and telecom equipment system

Summary

The Supreme Court admitted the appeals and stayed the impugned order passed by the Customs, Excise & Service Tax Appellate Tribunal, Bangalore. The appellants must deposit a sum of Rs. 209 crores plus Rs. 9 crores and ten lacs within six weeks. If successful, the deposited amount will be refunded by the respondent authority. Interest will be decided by the Bench accordingly.