Partial success for Nand Kishore Sharma in penalty appeal, deposit required within 8 weeks

The appeal by Shri Nand Kishore Sharma seeking waiver of a penalty of Rs. 66 lakhs was partially allowed. The Tribunal directed the appellant to make a deposit of 7.5% of the penalty imposed within eight weeks, with compliance due by 06.05.2015.

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The appeal was filed by Shri Nand Kishore Sharma seeking waiver of a penalty of Rs. 66 lakhs. The Tribunal cannot condone the pre-deposit amount, but the appellant is given eight weeks to make a deposit of 7.5% of the penalty imposed. Compliance is to be reported by 06.05.2015.

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