2001 (1) TMI 497

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....der]. - The prayer in the stay petition is for waiver of the condition of pre-deposit of penalty of Rs. 3,50,000/- imposed on Shri Radhey Shyam Gupta of Calcutta. 2. Shri K.P. Dey, ld. Advocate appearing for the appellant/applicant, submits that Shri Radhey Shyam Gupta is owner of the Transport-Company. He admits that the package containing raw silk yarn was seized from the premises of ....

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....ore, submits that there is a prima facie case for waiver of the condition of the pre-deposit. He makes it clear that the goods are not claimed by Shri Gupta. Ld. Advocate also submits that Shri Gupta is running the Transport business on a small scale and in this connection he submits the income-tax return for the assessment year 2000-2001. 3. Shri R.K. Roy, ld. JDR appearing for the Revenu....