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AT directed denial of waiver of the statutory pre-deposit: the appellant's application for waiver was dismissed and the appellant was ordered to deposit 25% of the penalty amount as the condition of pre-deposit. The AT relied on documentary disclosures recovered during search and statements under the relevant statute implicating the appellant in receipt of Rs. 12.90 crore and transfers amounting to Rs. 12.50 crore purportedly routed to secure foreign TTs, finding prima facie material suggestive of bogus exports and hawala-linked remittances. The appellant's unsubstantiated claim of financial hardship and asserted bona fide export sales was insufficient to dispel the pre-deposit requirement.
AT directed denial of waiver of the statutory pre-deposit: the appellant's application for waiver was dismissed and the appellant was ordered to deposit 25% of the penalty amount as the condition of pre-deposit. The AT relied on documentary disclosures recovered during search and statements under the relevant statute implicating the appellant in receipt of Rs. 12.90 crore and transfers amounting to Rs. 12.50 crore purportedly routed to secure foreign TTs, finding prima facie material suggestive of bogus exports and hawala-linked remittances. The appellant's unsubstantiated claim of financial hardship and asserted bona fide export sales was insufficient to dispel the pre-deposit requirement.
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TaxTMI 
TaxTMI 
