2013 (2) TMI 9

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..... ihood of the allegations of the duty evasion being upheld and if there is slightest risk to the Revenue, the dispensation from the provisions of Section 35F should not be given. A perusal of order passed by the CIT reveals that each of the arguments, as is sought to be raised before this Court, has been examined in detail by the Commissioner of Income Tax. At the stage of waiver such findings c .....

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..... tion of waiver of pre-deposit on duty, interest or penalty, the Tribunal ordered the appellant to deposit a sum of Rs.75,00,000/- within a period of eight weeks. Learned counsel for the appellants has raised the following substantial questions of law: "i) Whether finding given by the Ld. Tribunal is based on misreading of evidence and perverse to the evidence on record? ii) Whether appellant .....

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..... that show case notice issued to M/s V.K. Metal Works is pending adjudication, but at the prima facie stage of question of dispensation from the requirement of predeposit under Section 35F of the Act, the Tribunal observed that the evidence on record indicates the likelihood of the allegations of the duty evasion being upheld and if there is slightest risk to the Revenue, the dispensation from the .....

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