2013 (11) TMI 748

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..... tter merely relates to pre-deposit and the balance-sheet appended with the appeal, does indicate a degree of financial distress – Thus the assesse directed that in addition to the sum of Rs.25 lacs already deposited, he shall deposit another sum of Rs.49 lacs as a pre-condition to the hearing of its appeal – Decided partly in favour of Appellant. - CEA No. 9 of 2013 - - - Dated:- 31-10-2013 - .....

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..... aintained separate balance-sheets, have separate PAN account number etc., the mere fact that companies may be sharing a plot or the Directors are brothers, is insufficient to raise an inference against the appellant, in the absence of any other material. It is further submitted that the balance-sheet of the appellant discloses net profits of Rs.1.81 lacs only. It is prayed that the amount required .....

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