2012 (6) TMI 174

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..... nvolved is allowed and recovery thereof stayed till the disposal of appeal. - E/188/11 - - - Dated:- 28-5-2012 - Mr. M.V. Ravindran, Mr. B.S.V. Murthy, JJ. For Respondent : Shri J.S. Negi, A.R. Per : Mr. M.V. Ravindran; When this stay petition was called out, none appeared on behalf of the appellant nor there is any request for adjournment. This mater has been reconsidered as .....

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..... find that against the duty liability of approximately Rs.10.84 lacs, the appellant has already executed a Bank Guarantee worth Rs.2.71 lacs as directed by the first appellate authority. Though there is no representation from the assessee as regards the validity of the said Bank Guarantee, we presume that the said Bank Guarantee is valid till date and Revenue authorities may seek validity extensio .....

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