Harish Tandon, J. - (1.) HEARD the learned counsel for the parties. Three applications filed by the petitioner seeking waiver of the pre -deposit of the duty demanded are disposed of by the Customs, Excise & Service Tax Appellate Tribunal (hereinafter referred to as "CESTAT") by directing, the petitioner to deposit 25% of the duty demanded within a period of eight weeks from the date of communication of the order.
(2.) IN a supplementary affidavit petitioner disclosed that pending the writ petition and because of non -deposit of the 25% of the duty demanded in terms of the said order, the Appellate Tribunal has recorded the dismissal of the appeals. At the time of admitting the writ petition, the judgment of the Bombay High Court and the Supreme Court was placed by the respective counsel, which, prima facie, appears to have taken a divergent view. The matter was directed to be decided on a later date and interim order was passed by this Court.
(3.) THE petitioner's main thrust in assailing the order passed by the CESTAT in this writ petition is that the Tribunal has not recorded its satisfaction relating to the net worth of the company which is less than the liability.;