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2014 (6) TMI 817 - HC - CustomsAdjustment of penalty amount with the refund payable to the assessee - tribunal has granted stay with regard to penalty - Whether in the facts and circumstances of the case, the Tribunal has committed substantial error of law in holding that order of adjustment made by the revenue under section 142 of the Customs Act, 1962 stands nullified by interlocutory order of stay passed by the Tribunal in collateral proceedings and the revenue was obliged to suo motu suggestion and prayed refund claim of the respondent without any delay - Held that:- When the penalty of ₹ 25 lakh imposed by the orderinoriginal was unconditionally stayed, it was no longer an amount payable by the respondent to the Department. In that view of the matter, in our opinion, the Tribunal committed no error. Allowing Department to adjust the refund against the said liability would virtually nullify the effect of the stay - Decided against Revenue.
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