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TMI Blog2015 (1) TMI 76X X X X Extracts X X X X X X X X Extracts X X X X ..... st, considering the departmental circulars issued from time to time, that such option should be offered. - Assessee would have an option to pay up the entire duty with interest within 30 days, upon which he would avail the benefit of duty, interest and reduced 1/4th penalty. The question is answered accordingly. Judgment of the tribunal is reversed to that extent. If the appellant deposits before the department unconditionally the entire amount of unpaid duty with interest and 1/4th penalty, the penalty under Section 11 AC of the Central Excise Act shall be reduced to such extent - Decided partly in favour of assesse. - TAX APPEAL NO. 921 of 2014 - - - Dated:- 19-12-2014 - MR. AKIL KURESHI AND MR. VIPUL M. PANCHOLI, JJ. MR PARESH M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... penalty aims at reduction in the litigation and ensures that an assessee who accepts the duty demand and pays the same with interest within stipulated time would be granted such a benefit of reduced penalty. However, this Court has taken the view in the past, considering the departmental circulars issued from time to time, that such option should be offered. In this context, we notice that in a judgment dated 24.1.2013 passed in Misc. Civil Application No.11 of 2013 in Tax Appeal No.963 of 2011 in the case of Commissioner of Central Excise and Customs v. M/s. Krishnaram Dying and Finishing Works, Division Bench of this Court referred to large number of decisions of this Court and other High Courts on the issue and held and observed as under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... terest and penalty of 25% of the duty, what all Tribunal had done, pursuant to the direction in remand order, was to avail option to the respondent assessee and this was in consonance with the ratio laid down by the Court time and again. Thus, no case is made out by the applicant for reviewing the order in Tax Appeal No.963 of 2011. Review application, being devoid of merits stands dismissed. 4. We further notice that in large number of appeals where the High Court had taken similar view, the revenue had carried the issue further in appeal before the Supreme Court. Learned counsel, Shri Dave for the appellant placed on record an order dated 25.11.2014 passed by the Supreme Court dismissing all such appeals. 5. Under the circumstances ..... X X X X Extracts X X X X X X X X Extracts X X X X
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