9911796707
TMI Blog2013 (11) TMI 1026X X X X Extracts X X X X X X X X Extracts X X X X ..... heir loan and credit limit with the bankers - revenue has not corroborated the clandestine removal findings or clandestine manufacture - All the legal points raised by the appellant’s needs deeper consideration and is possible only at the time to final disposal of appeal - the appellant has not made out prima facie case for complete waiver of pre deposit amount involved – Assessee directed to submit Rs.15 lacs as pre-deposit – upon such submission rest of the duty to be waived till the disposal – Partial stay granted. - Appeal No. : E/12624, 12625/2013 - ORDER No. M/15039-15040/2013 - Dated:- 30-10-2013 - Mr. M.V. Ravindran and Mr. H.K. Thakur, JJ. For the Appellant : Shri J.C. Patel, Adv. For the Respondent : Shri M. Kutty (AR) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncrease in the labour force, no statements of transporters to indicate that there was clandestine manufacture and clearance of goods. It is his submission that identical set of facts, in the case of Colius Paper converters, this bench, vide a stay order dtd 31.10.2012 has granted unconditional waiver of the dues involved. It is his submission that the unit is facing financial hardships in as much as, the State Bank of India and Indian Overseas Bank have invoked provision of SARFAESI Act and directed appellant to foreclose the outstanding dues of Rs 40.62 crores. 4. Ld Commissioner (AR) on the other hand would submit that the conduct of the appellant hearing is suspect and they were found having possession of TR 6 challans, rubber stamps o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot made out prima facie case for complete waiver of pre deposit amount involved; there being no financial hardship claimed except for producing the letter written by the bankers invoking provisions of SARFAESI Act, it is noticed that the balance sheet of the appellant for the year ended 31st March 2012 shows a net profit. Hence, there would not be any financial hardships. 6. Accordingly, we find that the appellant needs to put to some conditions for hearing and disposing the appeal; we direct the main appellant M/s Mapple composite Containers Ltd., to deposit an amount of Rs 15 lacs within a period of 8 weeks from today and report compliance to Dy Registrar on 08.1.2014. Dy Registrar after ascertaining such compliance, will place the file ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
