2013 (11) TMI 1160

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..... merits acceptance - As regards the interest liability, I find that the issue needs deeper consideration - the appellant needs to put to some condition - the appellant directed to deposit an amount of Rupees twenty five thousand as pre-deposit for the interest – upon such submission rest of the interest amount to be waived till the disposal – Partial stay granted. - Appeal No.:E/10767 of 2013 - - .....

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..... utilized the said amount, hence no interest is payable. It is the submission of the learned counsel that the decision of the Hon'ble Supreme Court in the case of Ind-Swift Laboratories has been distinguished by the Hon'ble High Court of Karnataka in the case of Bill Forge Pvt. Limited, wherein the Hon'ble High Court has held that the amount taken as credit and not utilized by an assessee, no inte .....

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..... ose the appeal, in my considered view, appellant needs to put to some condition. Accordingly, I direct the appellant to deposit an amount of Rs. 25,000/- (Rupees twenty five thousand only) as pre-deposit for the interest levied on the appellant by the lower authorities, within four weeks from today and report compliance on 05.7.2013 before Deputy Registrar. Deputy Registrar, on ascertaining such c .....

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