1999 (2) TMI 217

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....pondent. [Order per : P.C. Jain, Vice President]. -  Ld. Advocate Shri Rajesh Chibber prays for waiver of pre-deposit and stay of recovery of Rs. 17,87,721/- demanded as compound levy during the period January, 1998 to December, 1998. He submits that this is patently wrong demand inasmuch as the appellant had been paying the determined duty liability on the basis of annual capacity which in....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....herefore, he has a strong prima facie case. Consequently, he prays for allowing the stay petition unconditionally. Apart from that he has drawn our attention to financial hardship by placing on record the balance sheet for the period ending 31st March, 1998 and the profit and loss account for the said period which indicates that they have made nominal profit of Rs. 17,185/- during the aforesaid pe....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....s. 3. On the financial hardship, ld. JDR submits that it is a profit taking concern and , therefore, they have the capacity of pay the aforesaid amount. We have carefully considered the pleas advanced from both sides. We find sufficient force so far as the legal plea taken by the Advocate is concerned. The plea taken is law provides for determination of capacity on the basis of the formula a....