2000 (5) TMI 418

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....pellant. Shri R.K. Roy, JDR, for the Respondent. [Order per : Archana Wadhwa, Member (J)]. -  The applicants are making a prayer for dispensing with the pre-condition of deposit of duty amount of Rs. 6,15,381/- and penalty amount of Rs. 1,50,000/-. Shri D. Roy, learned Advocate appearing for the applicants submits that said demand has been confirmed by the Commissioner by including h....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... were realised from their customers on account of on deferred payment. As such he submits that the same should not have been added to the assessable value. 2. He also draws our attention to the financial position of the applicants/appellants and places on record their balance sheet as on 31st March, 1999. 3. Countering the arguments, Shri R.K. Roy, learned JDR appearing for the Rev....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....eceivable. Onus was upon them to show so. As such we conclude that the applicants do not have a strong prima facie case in their favour so as to dispense with the condition of pre-deposit of dues confirmed by the authorities below. We also observe that from the balance sheet as produced before us for the year ending 31-3-1999 that reserve and surplus is Rs. 10,92,57,067.42 i.e. more that Rs. 10 cr....