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2010 (3) TMI 698 - GUJARAT HIGH COURTPenalty - subject to the condition that if the interest and penalty is paid within 30 days from the date of receipt of the order, the penalty shall stand reduced to 25% - assessee had deposited the duty prior to issuance of the said show-cause notice - Held that: - no factual foundation has been laid by the appellant before the Tribunal to point out that such amount had not been deposited as required with the provisions of Section 11AC - In absence of any factual foundation having been laid, it would not be possible for this Court to accept the contention that the amount of penalty could not have been reduced to 25% as the interest and penalty had not been paid within the prescribed period - appeal is dismissed
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