https://www.taxtmi.com/caselaws?id=90314 Complete waiver of pre-deposit and stay of recovery were sought in a penalty matter arising from seizure of foreign currency, supported by a plea of financial hardship and retraction of statements. At the waiver stage, the tribunal held that it could not finally determine whether the statements were voluntary or whether the currency belonged to the applicant, and the financial hardship plea was therefore not accepted prima facie. Complete waiver was declined, but partial relief was granted: the applicant was directed to deposit Rs. 3.00 lakhs within two months, and on such deposit the balance penalty stood waived and recovery stayed. en-us Fri, 26 Mar 1999 00:00:00 +0530 Wed, 05 Oct 2011 10:56:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=90314 Complete waiver of pre-deposit and stay of recovery were sought in a penalty matter arising from seizure of foreign currency, supported by a plea of financial hardship and retraction of statements. At the waiver stage, the tribunal held that it could not finally determine whether the statements were voluntary or whether the currency belonged to the applicant, and the financial hardship plea was therefore not accepted prima facie. Complete waiver was declined, but partial relief was granted: the applicant was directed to deposit Rs. 3.00 lakhs within two months, and on such deposit the balance penalty stood waived and recovery stayed. Case-Laws Customs Fri, 26 Mar 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=90314