https://www.taxtmi.com/caselaws?id=782334 HC considered applications seeking waiver of pre-deposit and stay of recovery of penalty relating to valuation of imported goods and transfer of funds overseas. Observing that the proprietary concern involved had been closed since 2008 and that compelling individuals to pre-deposit the penalty would cause undue hardship, HC followed the SC guidelines in Ketan V. Parekh on balancing hardship with eventual recoverability. HC held that the Appellate Tribunal's direction of 30% cash and 70% Bank Guarantee required modification. The impugned order was partly set aside, pre-deposit of 50% of the penalty was waived, and appellants were directed to furnish Bank Guarantee for the remaining 50%, with recovery stayed pending appeal. en-us Fri, 21 Nov 2025 00:00:00 +0530 Tue, 25 Nov 2025 17:50:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782334 HC considered applications seeking waiver of pre-deposit and stay of recovery of penalty relating to valuation of imported goods and transfer of funds overseas. Observing that the proprietary concern involved had been closed since 2008 and that compelling individuals to pre-deposit the penalty would cause undue hardship, HC followed the SC guidelines in Ketan V. Parekh on balancing hardship with eventual recoverability. HC held that the Appellate Tribunal's direction of 30% cash and 70% Bank Guarantee required modification. The impugned order was partly set aside, pre-deposit of 50% of the penalty was waived, and appellants were directed to furnish Bank Guarantee for the remaining 50%, with recovery stayed pending appeal. Case-Laws FEMA Fri, 21 Nov 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782334