Tribunal grants waiver, stay, and expedited appeal process

The Tribunal granted the appellant's applications for waiver of pre-deposit and stay of recovery, as well as for out-of-turn disposal of the appeal. The appellant provided substantial security through bank guarantees and fixed deposits. An ad interim stay was maintained until the final disposal of the appeal, with both parties agreeing to expedite the appeal process. The Tribunal allowed the out-of-turn disposal of the appeal, scheduling a prompt hearing and extending the stay. Ultimately, the Tribunal resolved the issues raised by the appellant efficiently, ensuring a timely resolution of the appeal.

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Issues:
1. Application for waiver of pre-deposit and stay of recovery.
2. Application for out-of-turn disposal of the appeal.

Waiver of Pre-deposit and Stay of Recovery:
The judgment addresses two applications - one for waiver of pre-deposit and stay of recovery, and the other for out-of-turn disposal of the appeal. The appellant sought waiver and stay regarding the duty demand and penalties imposed. The appellant had furnished bank guarantees totaling Rs.14.22 crores and a fixed deposit of Rs.1.01 crore to secure the Revenue. An ad interim stay was granted earlier, directing the bank guarantee to be kept alive until the final disposal of the stay application. The appellant assured the bank guarantee would be maintained until the appeal's final disposal. Considering the high stakes involved, the appeal was expected to be disposed of soon, allowing the ad interim stay to continue until then. The Revenue had no objection to the out-of-turn disposal of the appeal, and both parties had filed similar applications for the same. Consequently, the Tribunal allowed both miscellaneous applications, directing the appeal to be heard out of turn on a specified date and extending the stay until the hearing.

Out-of-Turn Disposal of the Appeal:
The Tribunal granted the two miscellaneous applications, allowing the appeal to be listed for an out-of-turn hearing on a specific date. With the appeal set for a near-future hearing, an extension of the stay was ordered until then. The waiver of pre-deposit was also granted as requested. The judgment was pronounced and dictated in open court, resolving the issues raised by the appellant effectively and ensuring a timely hearing and resolution of the appeal.

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