Judgment:
1. Heard both sides.
2. Considering the fact that the entire amount of tax and interest has been paid, and only penalty amount is in dispute, I waive the requirement of predeposit of penalty amount and with the consent of both sides proceed to hear and dispose the appeal today itself.
3. Shri M.N. Bharathi, Ld. Advocate hearing for the appellants fairly states that the appellants have not pleaded before the authorities below that their case is covered under Section 73 of the Finance Act, 1994, since they had paid the entire amount of tax and interest before issue of Show Cause Notice. He states that for the first time this plea has been taken in the appeal before the Tribunal.
4. The Ld. SDR, Shri A.B. Niranjan Babu, states that since this plea was not taken before the authorities below, they had no occasion to examine the applicability of Section 73 of the facts of this case.
5. In view of the submissions made that the authorities below had no occasion to consider the applicability of Section 73 to the facts of this case earlier, the impugned order is set aside and the matter is remanded to the original authority to decide the matter afresh, taking into consideration the plea made on behalf of the appellants in regard to the application of Section 73. He shall give a reasonable opportunity of hearing to both sides before passing a fresh order. The appeal is remanded in the above terms.