2015 (7) TMI 25 - AT - Customs

Waiver of pre deposit - Mandatory pre deposit - Held that - In view of the provisions of Section 129A, as amended by the Finance Act, 2014, the Tribunal cannot condone the amount of pre-deposit fixed under the statute @7.5% of the amount demanded. Accordingly, the miscellaneous application stands dismissed. However, the appellant is allowed time to make pre-deposit 7.5% of the penalty imposed within a period of eight weeks - Decided against assessee.

Summary

The appeal was filed by Shri Nand Kishore Sharma seeking waiver of a penalty of Rs. 66 lakhs. The Tribunal cannot condone the pre-deposit amount, but the appellant is given eight weeks to make a deposit of 7.5% of the penalty imposed. Compliance is to be reported by 06.05.2015.