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TMI Blog2015 (11) TMI 1030X X X X Extracts X X X X X X X X Extracts X X X X ..... e headquarters of the group companies. The tribunal in the stay order given a prima facie findings that the hard disk recovered from the headquarters of the group companies pertain to the appellant company and the clearances reflected therein are not accounted for statutory Central Excise records. If this is the prima facie finding of the Tribunal in the stay order and a prima facie view has been ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Kumar, JDCR ORDER Per Rakesh Kumar The Tribunal, vide stay order no. 50113-50114/2014 dated 8/1/2014, had directed the appellant company to pre-deposit an amount of ₹ 10000000/- in eight installments - the first installment of ₹ 30,000,00/-was to be paid within a period of six weeks and the balanced 7 installments of ₹ 10,000,00/- each were to be paid by 20th of each ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... High Court, the appellants have filed miscellaneous application for modification of the stay order. 3. Heard both sides. 4. Sh. Krishna Kant, Advocate, ld. Counsel for the appellant, pleaded that the Bank's statement and the appellant company's letter dated 1/7/2013, addressed to the Assistant General Manager, Indian Overseas Banks, Rajiv Chowk Branch, New Delhi, clearly shows that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es the allegation of evasion of duty by clandestine clearances and by taking recourse to under reporting of manufacture and clearance of the goods, no sanctity can be attached to their profit and loss account or their Bank's statements as the same do not reflect the actual financial position of the appellant. 6. We have considered the submissions from both the sides and perused the records. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n record that the appellant company has suppressed its production and clearance, a logical conclusions of this would be that no sanctity can be attached to their profit and loss account or their claim of the company being in losses. In view of this, so far as the appellant company is concerned, we do not find any justification for modifying the quantum of pre-deposit. However, as regards, the quan ..... X X X X Extracts X X X X X X X X Extracts X X X X
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