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TMI Blog1994 (2) TMI 152X X X X Extracts X X X X X X X X Extracts X X X X ..... ate has appeared on behalf of the appellants and reiterated the contentions made in the miscellaneous application where a prayer has been made for modification of the order. Shri Khaitan further pleaded that the order passed by the Tribunal may be modified to the extent that the pre-deposit of duty and penalty may be dispensed with without insisting either for cash deposit or bank guarantee. Shri Khaitan pleaded for the acceptance of the miscellaneous application. Shri A.K. Singhal, the learned JDR objected to the modification of the stay order and stated that till date, neither any deposit nor bank guarantee has been furnished by the appellants and there are no changed circumstances from the last date of the hearing till date. Shri Singhal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... milar importations, can be adduced. The final conclusion, of course must rest on the peculiar facts and circumstances of each case. We, therefore, do not accept the appellants first proposition that just because no bogus invoice or other evidence of extra remittance had been discovered in their case, confiscation and penalty proceedings cannot be initiated against them. In the matter before us, the appellants had been selling the goods below the cost price. The appellants are not running business for charity and no prudent businessman would sell his goods below the cost price rather he will always add his margin of profit. Accordingly, we do not find any justification in modifying the order. However, we are modifying the order for exten ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve. As stated in Maxwell on Interpretation of Statutes, (eleventh edition) where an Act confers a jurisdiction, it impliedly also grants the power of doing all such acts, or employing such means, as are essentially necessary to its execution." 3. As per earlier order the instalments for Rs. 7 lakhs each totalling Rs. 35 lakhs were to start from 31st December, 1993 and would have lasted till 30th April, 1994. In addition to this, the appellants were to furnish a bank guarantee for Rs. 15 lakhs by 31st January, 1994. Since the appellants did not comply with the terms of the stay order, in the interest of justice, we order the appellants to deposit Rs. 35 lakhs (Thirty Five Lakhs) in two instalments as follows :- (i) Rs. 20 lakhs (Twen ..... X X X X Extracts X X X X X X X X Extracts X X X X
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