https://www.taxtmi.com/caselaws?id=94301 In stay proceedings, a pre-deposit direction may be modified where financial hardship is credibly shown, and a bank guarantee can be accepted as a substitute for immediate cash deposit. Here, the Tribunal observed that the plea of financial weakness was raised at the modification stage and should ideally have been supported earlier, but it nonetheless took a compassionate view of the assessee's condition. It therefore modified the earlier direction, allowed furnishing of a bank guarantee, and stayed recovery during the pendency of the appeal, subject to compliance with the guarantee requirement within the stipulated time. en-us Tue, 07 Mar 2000 00:00:00 +0530 Mon, 21 Nov 2011 14:47:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=94301 In stay proceedings, a pre-deposit direction may be modified where financial hardship is credibly shown, and a bank guarantee can be accepted as a substitute for immediate cash deposit. Here, the Tribunal observed that the plea of financial weakness was raised at the modification stage and should ideally have been supported earlier, but it nonetheless took a compassionate view of the assessee's condition. It therefore modified the earlier direction, allowed furnishing of a bank guarantee, and stayed recovery during the pendency of the appeal, subject to compliance with the guarantee requirement within the stipulated time. Case-Laws Central Excise Tue, 07 Mar 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=94301