Gangotri Textiles Ltd vs Pune - Ii on 22 September, 2010
In respect of the penalty, we find that the Hon'ble Gujarat High Court in the case of CCE vs. Harish Silk Mills (supra) held that if duty amount with interest is not paid in time and even reduced penalty of 25% of duty amount is not paid in time and option is not given to assessee such option should be given to assessee and period of 30 days would commence from the date of giving such option.